KUALA LUMPUR, The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) aims to raise the proportion of medium-sized businesses to 5% of Malaysia’s total micro, small and medium enterprises (MSMEs) by 2030, up from the current 1.6%.
Minister Datuk Ewon Benedick said the ministry will continue supporting MSMEs through targeted initiatives aimed at helping them grow and become more resilient in the long term.
“Scaling up MSMEs is a key priority to ensure their sustainability and ability to withstand future challenges. It’s an ambitious goal, but we are identifying several new initiatives to help drive this, including encouraging MSME participation in high value-added sectors, disruptive business models, and global value chains. We’re also looking to increase MSME listings on the stock exchange,” he said during the 2024 MSME performance briefing by SME Corporation Malaysia.
He noted that between 2023 and 2025, survey data shows 8.5% of businesses have formalised their operations, while 7.3% of MSMEs have successfully expanded into larger enterprises.
“These scaled-up MSMEs often have strong competitive edges — they are involved in high-impact industries, export internationally, supply to larger companies, and adopt ESG practices in their operations,” he added.
At the briefing, it was also reported that MSMEs are continuing to play a significant role in Malaysia’s economy, contributing RM652.4 billion in 2024. According to the Department of Statistics Malaysia, MSME GDP grew by 5.8% this year, outpacing the national GDP growth of 5.1% and non-MSMEs’ 4.7%.
