NATIONAL ENTREPRENEURSHIP POLICY

ASM as a strategic partner to the Ministry of Entrepreneur Development and Cooperatives, MEDAC (previously Ministry of Entrepreneur Development) have developed the National Entrepreneurship Policy (NEP) 2030. Through this policy, MEDAC hopes to chart the direction towards creating a holistic, conducive and inclusive entrepreneurship ecosystem to support the socio-economic agenda of the country. The long-term plan outlines five objectives, five targets, 19 strategies and 62 initiatives that will be implemented to develop an entrepreneurial ecosystem across all industry areas and encompass every level of entrepreneurs and communities.

According to the National Economic Census (2016), the largest proportion of business establishments (BEs) in Malaysia are made up of small and medium enterprises (SMEs) which accounts for 98.5% (907,065) of the total BEs. From this, 76.5% (693,670) comprises of micro-enterprises, 21.2% (192,783) as small enterprises and the remaining 2.3% (20,612) are medium enterprises. The NEP aspires to position Malaysia as an entrepreneurial nation by 2030 with various provisions including to instil technological and innovative elements for value-added products and services, ensuring competitiveness while increasing the prospects of growth and business opportunities. The NEP calls upon an effective collaboration, established coordination, commitment and support from all stakeholders as drivers to catalyse Malaysia’s growth forward to escape the middle-income trap and become an economic axis in Asia and globally with equitable distribution and inclusivity for all Malaysians.