KUALA LUMPUR, Nov 2 – A memorandum of understanding (MoU) was signed between SME Corporation Malaysia (SME Corp Malaysia) and Enterprise Singapore on Oct 30 in Singapore to pave the way towards strengthening bilateral relations and encouraging the growth of micro, small and medium enterprises (MSME) in both countries.
The signing of the MoU was witnessed by Prime Minister Datuk Seri Anwar Ibrahim and Singapore Prime Minister Lee Hsien Loong in conjunction with Anwar’s working visit to the 10th Singapore-Malaysia Leaders’ Retreat.
The MoU was signed by SME Corp Malaysia chief executive officer (CEO) Rizal Nainy and Enterprise Singapore CEO Lee Chuan Teck.
In a statement today, Rizal said the MoU could bring closer collaboration and economic prosperity for Malaysia and Singapore, particularly for MSME development through the sharing of knowledge, experience and best practices.
“The two countries hope to take advantage of the potential of the MSME sector in their respective countries and benefit from this cooperation to support entrepreneurship, innovation and economic growth aspects,” he said.
He pointed out that the collaboration that has been forged would give priority to training, digitalisation, sustainability and wider market access for MSMEs in both countries.
According to him, SME Corp Malaysia has identified eight sectors that would be prioritised for business matching activities, including smart agriculture, electrical and electronics, aerospace, medical devices, as well as halal, oil and gas, tourism, and biomass industries.