MATRADE Elevates Malaysian Mid-Tier Companies Presence Globally

THURSDAY, 24 JANUARY 2019, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) continues to develop local Mid-Tier companies (MTCs) by developing their capabilities to compete in the international arena through its Mid-Tier Companies Development Programme (MTCDP).

Today, 60 of the MTCDP’s Wave 4 and 5 participants have graduated after completing the nine-month programme, bringing the total number of MTCs assisted by MATRADE to 212. The programme was introduced in 2014 as a high impact initiative to accelerate the growth of MTCs in the global forefront. Through the programme, the MTCs received customised facilitation to suit the MTCs business needs.

The MTCs’ importance is significant as they contribute about 30 per cent of the country’s total Gross Domestic Product and employ over 22 per cent of the Malaysian workforce despite being only 1 per cent of the businesses in Malaysia.

The MTCs’ importance is significant as they contribute about 30 per cent of the country’s total Gross Domestic Product and employ over 22 per cent of the Malaysian workforce despite being only 1 per cent of the businesses in Malaysia.

According to MATRADE’s Deputy Chief Executive Officer Puan Sharimahton Mat Saleh, there are still a lot more MTCs that need to play a more active in international trade given their significant role in the Malaysian economy. “There are approximately 10,000 MTCs in the country as compared to more than 900,000 Small and Medium Enterprises in Malaysia. But their impact in driving Malaysia’s trade is tremendous and often understated. MATRADE sees the need to grow the MTCs so Malaysia will have a stronger footprint around the world,” she said.

In Malaysia, the MTCs are those with an annual revenue of between RM50 million-RM500 million in the manufacturing sector and RM20 million-RM500 million for the services sector.

Through the MTCDP, MATRADE assessed each MTCs’ challenges in growing exports, and customised a series of development programmes activities to help them overcome these challenges. Each participating MTC underwent diagnostic assessment that evaluates their export priorities and challenges. Based on this report, customised activities were developed and implemented, tailored to the needs and requirements of the MTCs who come from various product and service sectors.

The MTCs in the programme have successfully accessed various markets in ASEAN, East and South Asia, Americas, Europe, Middle East as well as Africa. The Wave 4 and Wave 5 participants in particular have taken part in eight market immersions to Indonesia, Thailand, Myanmar, Vietnam, China, Australia and the United States of America. They have also participated in over 330 pre-arranged business matchings coordinated by MATRADE through its global offices. Moving forward, MATRADE hopes to identify more MTCs from all over Malaysia, including Sabah and Sarawak, to be more involved in international trade. The MTCs will also be encouraged to champion Industry 4.0 in line with the National Policy of Industry 4.0 (Industry4WRD) developed by Ministry of International Trade & Industry to have a stronger edge when competing globally.

Updated by Corporate Communication Unit

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