Summary
- RM15 billion financing initiative targets 10,000 SMEs.
- Budget 2027 provides RM67.9 billion in business support.
- Government prioritises exports, digitalisation and AI adoption.
KUALA LUMPUR, October 31 — Malaysia has introduced the PowerUp 10k initiative, offering up to RM15 billion in financing to help 10,000 micro, small and medium enterprises (MSMEs).
Expand their businesses. Entrepreneur Development and Cooperatives Minister Steven Sim announced the initiative during SME Corp Malaysia’s inaugural Enterprise 50 Export Conference.
He said Budget 2027 provides RM67.9 billion in business support, including RM32 billion in financing guarantees and RM1.06 billion for international market expansion.
The government has also allocated RM223 million for digitalisation, artificial intelligence and automation to strengthen business competitiveness and support SME growth.
