KUCHING: The Federal government is in the midst of formulating new legislation to protect and strengthen the position of small and medium-sized enterprises (SMEs) in the country. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the new Act will serve as a guideline to resolve issues and disputes surrounding SMEs, apart from ensuring that SMEs remain among the many catalysts for growth for the nation. Mustapa said the government is currently gathering input from all stakeholders to formulate the new legislation. Present were State Industrial and Entrepreneur Development Minister Datuk Awang Tengah Ali Hassan, Assistant State Industrial Development Minister Datuk Julaihi Narawi and Assistant State Entrepreneur Development Minister Datuk Mohd Naroden Majais. Mustapa said neighbouring countries such as Indonesia and Singapore have a specific Act to govern and address issues related to SMEs, which reflects the critical role played by small and medium-sized enterprises in driving the economy of the two nations.

Source: New Strait Times October 07, 2016 10:30 UTC