Economy To Remain Robust On Data Centre, Digital Infrastructure Investments -- SAMENTA
KUALA LUMPUR, July 9 (Bernama) -- Malaysia’s economy is expected to remain robust, fortified by massive incoming investments in data centres and digital infrastructure, said Small and Medium Enterprises Association of Malaysia (SAMENTA).
National president Datuk William Ng said the positive outlook is supported by a stable inflation environment, with the government successfully keeping inflation below two per cent through petrol subsidies and strict enforcement of anti-profiteering measures, hence shielding SMEs from runaway overhead costs.
“Furthermore, early domestic fuel stockpile management and logistical coordination at our major ports pre-empted a logistical catastrophe. This, in turn, reinforced the confidence of foreign and domestic investors.
“These decisive actions have put Malaysia in a distinct sweet spot within ASEAN. Not only is Malaysia among the least impacted, but we have benefited strongly as a safe haven in the midst of this global uncertainty,” he said in a statement today.
Ng said the government and Bank Negara Malaysia also worked almost seamlessly to provide liquidity support to the SMEs, which included the introduction of the RM5 billion SME Stability Relief Facility (SRG) specifically for impacted SMEs.
The RM10 billion credit guarantee via Credit Guarantee Corporation Malaysia Bhd and SJPP, and the increase in the margin of guarantee to 80 per cent, have also provided a crucial bridge for otherwise productive SMEs to borrow more to tide over the crisis.
Ng also said SAMENTA launched ASEAN’s first Circular Economy Certification to help SMEs reduce their raw material and energy dependency, along with a nationwide 50 Hyperlocal AI Fest roadshow to help them integrate artificial intelligence to improve their productivity.
“We remain committed to supporting the government in ensuring our SMEs are protected and insulated from external challenges, while preparing them for the future,” he said.
-- BERNAMA
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