MSMEs want more details on Madani Economy’s framework

Transparency in the Madani Economy’s framework, particularly regarding aid for micro, small, and medium enterprises (MSMEs), is essential. D. Ravindran, the chairman of the Johor Indian Petty Traders and Small Business Association, expressed concerns that the announcement made by Prime Minister Datuk Seri Anwar Ibrahim lacked specific details about the distribution of aid and the timeline for MSMEs to receive it for expanding their operations. “I hope the federal or state government can provide us with the necessary information,” Ravindran stated. He also emphasized the need for Indian MSMEs in the country to receive special attention and suggested the establishment of a support group to enhance their online business management skills.

Madani Economy, as a holistic approach by the unity government to support business expansion and digitalization, has been well-received. The Desa Tebrau Foodtruck Entrepreneur Association chairman, Mohd Redzuan Shah Ahmad, welcomed the RM100 million matching grant allocated by the government. Recognizing the impact of the Covid-19 pandemic on consumer spending, Mohd Redzuan highlighted the significance of expanding businesses online to reach a larger market and recover from pandemic-induced losses. However, he emphasized the dependency on the government’s assistance to penetrate foreign markets.

According to Mohd Redzuan, achieving international success necessitates certifications, higher production levels, and improved product quality. He acknowledged the crucial role of government agencies in providing guidance to MSMEs for achieving these requirements. Mohd Radzi Mohd Amin, the executive director of Perbadanan Usahawan Johor, emphasized the importance of connecting MSMEs with online platforms for selling products as one of the most effective strategies to promote their businesses.

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In conclusion, stakeholders in the business community have expressed the need for clear and detailed information about the Madani Economy’s aid distribution to ensure transparency. While the overall approach of supporting business expansion and digitalization is commendable, specific attention towards Indian MSMEs and their online operations management is necessary. The government’s RM100 million matching grant is seen as a positive step, especially considering the impact of the Covid-19 pandemic on local demand. However, support from the government is also needed to facilitate the entry into foreign markets, requiring certifications, improved production levels, and better product quality. Connecting MSMEs to online platforms is recommended for promoting their businesses effectively. Overall, collaboration between the government, business associations, and MSMEs is crucial for the success of the Madani Economy and the growth of the business sector.