PUTRAJAYA: Prime Minister Datuk Seri Najib Razak announced the roll out of another four High Impact Programmes (HIPs) under the SME Masterplan.
Najib said it was important to accelerate productivity growth among small and medium enterprises (SMEs) through innovation and other measures.
The four HIP that was announced by the prime minister were, integration of business registration and licensing; SME Investment Programme; GoEx Programme and Catalyst Programme.
The SME Masterplan which began in 2012, aspires to raise the contribution of small and medium enterprises to the economy in terms of Gross Domestic Product (GDP), employment and exports with the target of achieving 41 per cent of GDP by 2020.
Najib said: "To achieve the target, the current growth rate of 6.2 per cent has to be increased by 9.3 per cent via innovation, productivity and knowledge enhancement."
He had earlier chaired the 16th National SME Development Council (NSDC) Meeting and it was attended by ministers and heads of 16 ministries and agencies including those from Sabah and Sarawak.
Among other agendas that were also discussed during the meeting was the ASEAN Economic Community (AEC) which Najib said would come into effect in 2015 as Malaysia is poised to assume the chairmanship of Asean Summit.
"The council has expressed its hope that the SME Agenda at the regional level will be strengthened and given special emphasis as SMEs represent 95 to 99 per cent of the total business establishments within the Asean member states," he added.