KUALA LUMPUR: The Malaysia External Trade Development Corp (Matrade) has targeted a RM3.8 billion increase in export revenue from mid-tier companies (MTCs) under the Mid-Tier Companies Development Programme (MTCDP) in 2020 from RM2.5 billion recorded as at December 2017.
Matrade deputy chief executive officer Sharimahton Mat Saleh said the figure was achieved through the recruitment of 152 MTCs in 2017 (Wave 1, 2 and 3) since the implementation of the programme in 2014 to accelerate the growth of such companies.
Matrade has also targeted to recruit a total number of 300 MTCs for the programme by 2020.
Sharimahton said there was a lot more MTCs that needed to play a more active role in international trade given their significant role in the Malaysian economy.
“There are about 10,000 MTCs in the country compared to more than 900,000 small and medium enterprises in Malaysia but their impact in driving the country’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 told reporters after MTCDP Wave 4 and 5 graduation ceremony here today.
Today, 60 of the MTCDP Wave 4 and 5 participants have graduated after completing the nine-month programme, bringing the total number of MTCs assisted by Matrade to 212.
Through the programme, the MTCs received customised facilitation to suit the MTCs business needs.
Sharimahton said the MTC importance was significant as they contributed 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 one per cent of the businesses in Malaysia.
In Malaysia, the MTCs are those with an annual revenue of between RM50 million to RM500 million in the manufacturing sector and RM20 million and RM500 million for the services sector.
The MTCs in the programme have successfully accessed various markets in Asean, East and South Asia, Americas, Europe, the Middle East as well as Africa.
The Wave 4 and 5 participants in particular have taken part in eight market immersions to Indonesia, Thailand, Myanmar, Vietnam, China, Australia and the US.
They have also participated in over 300 pre-arranged business matching coordinated by Matrade through its global offices.