The Malaysian External Trade Development Corporation (Matrade) will intensify its effort to groom mid-tier companies (MTCs) in Malaysia as global champions through their signature mid-tier companies development programme (MTCDP), as it launched its 10th waves.
Introduced in 2014, the programme has played a pivotal role in empowering and guiding 323 MTCs across diverse sectors, providing tailored interventions to enhance export productivity.
In a statement, the government agency said this is shown through the joint ceremony hosted today to celebrate the accomplishment of 48 MTCs from the latest cohorts of the programme, the eighth and ninth wave.
“We are also welcoming 25 new MTCs to new cohort, Wave 10 in 2024 marking the tenth year of programme implementation,” it said today (Jan 23).
Chairman Datuk Seri Reezal Merican Naina Merican said for the first time, in the new cohort this year, prioritisation is given to the high performing medium enterprises that are actively involved in exports.
“This demonstrates that Matrade is committed in grooming these enterprises in strengthening their global footprints and becoming MTC and align alongside with the Malaysia MADANI agenda as well as new National Industrial Masterplan (NIMP) 2030,” he added.
Reezal Merican commended the achievements and acknowledges the diverse composition of MTCs in this programme that contributed to Malaysia’s trade performance in 2023.
“For the third straight year, Malaysia’s trade has surpassed RM2 trillion, reaching RM2.64 trillion with RM1.43 trillion total exports recorded.
“These MTCs have also successfully achieved significant export growth and based on the impact tracking report of the programme, in 2022, the cumulative annual revenue recorded RM33.9 billion, with 61 percent or RM20.90 billion generated through exports.
“Out of this achievement, Bumiputera status MTCs has recorded RM5.52 billion of cumulative annual revenue, with nearly 10 percent or RM0.54 billon contributed by export activities,” he said.
MTCDP is one of the Government’s high impact initiatives in the Malaysia Development Plan, aimed to accelerate the export growth of MTCs to become regional and global champions.
The MTCDP targets export-oriented MTCs with annual revenues between RM50 million to RM500 million for manufacturing companies and RM20 million to RM500 million for services companies.
In line with the MADANI Economy and NIMP 2030, Matrade added it strives to create more export champions, supporting the ongoing efforts by the government in regenerating Malaysian economy while ensuring the socio-economic inclusiveness and sustainability.
