Speaking at the launch of Bank Pembangunan's SME Growth Acceleration Fund, Second Finance Minister Tan Sri Nor Mohamed Yakcop, told the audience that local SMEs could catch up with their counterparts in neighbouring countries in the next five years."SMEs are the main driver of growth in Malaysia. Currently, they only contribute 60% to 70% of economic development in Malaysia but we have room to grow," he said, noting that - "In some other countries, the figure is 80% to 90%."
He also said: "The Government favours the SME sector and it is easy to get funding for SMEs; all that is required is that the project is a viable one," he said. He also pointed out that there was no quota as the country was "flush with funds."
