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NATIONAL Entrepreneur and SME DEVELOPMENT COUNCIL (NESDC)

Background

Since 2004, the National SME Development Council (NSDC) has been the highest policy-making authority with its strategic functions that embodies the overall development of small and medium enterprises (SMEs) across all sectors of the economy in Malaysia. As greater emphasis is now placed on entrepreneurship development, the Council forges ahead with its rebranded name – the National Entrepreneur and SME Development Council (NESDC), announced and endorsed at its inaugural meeting on 8 April 2019.

The Council is made up of 20 prominent Members in relevant positions:

  1. Prime Minister as Chairman;
  2.  Minister of Entrepreneur Development
  3.  Minister of Economic Affairs (formerly Economic Planning Unit)
  4.  Minister of Finance
  5.  Minister of International Trade and Industry
  6.  Minister of Agriculture and Agro-based Industry
  7.  Minister of Human Resources
  8.  Minister of Energy, Science, Technology, Environment and Climate Change (formerly known as Ministry of Science, Technology and Innovation)
  9.  Minister of Rural Development
  10.  Minister of Education
  11.  Minister of Tourism, Arts and Culture Malaysia (formerly known as Tourism and Culture
  12.  Minister of Domestic Trade and Consumer Affairs (formerly known as Domestic Trade, Cooperative and Consumerism
  13.  Minister of Primary Industries (formerly known as Plantation Industries and Commodities
  14.  Minister of Women, Family and Community Development
  15.  Minister of Communication and Multimedia
  16.  Minister of Youth and Sports
  17.  Minister of Trade and Industry, Sabah (formerly known as Industrial Development Sabah)
  18.  Minister of Industrial and Entrepreneur Development Sarawak (formerly known as Industrial Development Sarawak)
  19.  Chief Secretary to the Government
  20.  Governor of Bank Negara Malaysia 

In pursuit of achieving the target of 41% GDP contribution by SMEs as outlined in the SME Masterplan 2012-2020, the Council also endorsed eight (8) measures to further boost SME GDP annual growth namely;

  • Intensify digitalisation of SMEs
  • Enhance SMEs integration in the supply chain
  • Increase support to more SMEs with high growth through relevant incentives
  • Increase SMEs’ readiness and competitiveness in adoption of “innovative-disruptive-compelling” technology and business model
  • Facilitate alternative financing for SMEs
  • Recoup external SMEs value chain into the country
  • To drive growth, strengthen uptake and promote export of home-grown payment gateway and fintech by SMEs
  • Enhance SMEs participation in tourism industry

Premised on the National Entrepreneurship Framework (NEF) which is in parallel with the eight (8) measures for SMEs, the National Entrepreneurship Policy (NEP) has been formulated to bring about a comprehensive, inclusive and holistic entrepreneurship ecosystem for SMEs in the country.

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