SATURDAY, JANUARY 6, 2018, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) kickstarts 2018 by reinstating its well-known Market Development Grant (MDG) after the facilitation’s suspension last year. The move is to benefit more Malaysian Small and Medium Enterprises (SMEs) to export and is also a result of the Budget 2018 announcement by Prime Minister YAB Dato’ Sri Mohd Najib Tun Razak in October last year.
The MDG provides an opportunity for Malaysian SMEs to apply for a reimbursable grant up to RM200,000 for their participation in export promotional activities namely International Trade Fairs, Trade & Investment Missions, Export Acceleration Missions, International Conferences and Listing Fee for Made-in-Malaysia Products in supermarkets, hypermarkets, retails centres overseas.
The MDG was introduced in 2002 with the objective to support Malaysian exporters’ core expenses in promoting their Malaysian products or services. The facilitation is one of a kind Government assistance in the country executed through MATRADE as it supports the growth of Malaysian brands globally.
MATRADE’s Chief Executive Officer Ir. Dr. Mohd Shahreen Zainooreen Madros said the MDG is a key facilitation for Malaysian companies and is popular among the local SMEs. “Since its inception, the MDG has benefitted 7,682 local companies who have penetrated Malaysia’s main markets such as China, the UAE (United Arab Emirates) and ASEAN, among others. The MDG embodies the Government’s efforts to grow Malaysian companies into global entrepreneurs and to accelerate Malaysia’s exports. The facilitation is a catalyst for local companies to export and strengthen their footprint overseas,” he mentioned.
The SMEs who have enjoyed the MDG are from sectors such as Food & Beverages, Building & Construction Materials, Furniture, Automotive and Information and Communication Technology (ICT), just to name a few.
The reinstatement of the MDG, which became effective on 1 January 2018, sees two new guidelines introduced, which are:
1) companies have to register with MATRADE under its Malaysian Exporters Registry or MER (companies who have registered have to update their information) and
2) companies must own an active business entity (NOT applicable for company less than one year).