BAYAN LEPAS, October 29 – The Ministry of Entrepreneur and Cooperatives Development (MECD), in collaboration with SME Corp. Malaysia, organized the 2023 MSME Sustainability Series: “Charting the ESG Path for MSMEs and Business Matching for High Growth Industries” from 26th to 27th September 2023. This event represents an ongoing effort to equip Micro, Small, and Medium Enterprises (MSMEs) with the knowledge and tools needed to embrace sustainability, environmental, social, and governance (ESG) practices, ultimately transforming them into future-ready businesses.
The seminar was inaugurated by YB Datuk Ewon Benedick, Minister of Entrepreneur and Cooperatives Development, at the Setia SPICE Convention Centre. The MSME Sustainability Seminar brought together nearly 250 participants, including MSMEs from various sectors, business associations, chambers of commerce, anchor companies, researchers, and representatives from ministries and agencies, including the Penang State Government. Focusing on MSMEs in the northern region, particularly those in high-growth industries like electrical & electronic (E&E), medical devices, oil & gas, and aerospace, the seminar aimed to impart valuable knowledge about the importance of ESG practices in business.
Key topics included the fundamentals of ESG, developing ESG strategies, implementing them at the firm level, and sustainability reporting. YB Datuk Ewon Benedick emphasized the significance of integrating sustainability and ESG into MSMEs’ operations, as it is becoming increasingly important and is expected to be a significant trend in Malaysia. He pointed out that larger firms, multinationals (MNCs), and Government-linked Companies (GLCs) have started adopting ESG practices in their investment decisions and procurement processes. Hence, SMEs should follow suit to maintain their market access, expand into new supply chains, attract investments, and meet the growing demand for ESG elements from stakeholders.
YBhg. Tan Sri Datuk Seri Panglima Bernard Giluk Dompok, Chairman of SME Corp. Malaysia, highlighted the government’s commitment, in collaboration with the corporate and private sectors, to support SMEs in adopting ESG practices. He outlined the comprehensive SMEs’ sustainability ecosystem developed by SME Corp. Malaysia, which includes awareness and education, SME ESG Assessment, policy support, market access, standard & compliance, and financing & incentives. Encik Rizal bin Nainy, Chief Executive Officer of SME Corp. Malaysia, explained that the seminar is part of an awareness campaign under the PKSlestari program.
PKSlestari aims to promote and accelerate the adoption of ESG practices among MSMEs by developing an SME sustainability ecosystem. He stressed the importance of taking small, deliberate steps towards sustainability and how the seminar would help MSMEs embark on their journey towards a sustainable industry, creating long-term value for their companies and stakeholders. The program also featured a Gallery Walk where MSMEs could display and promote their products and services to the public and the business community. Additionally, participants had the opportunity to participate in Business Matching Sessions on the second day, featuring 17 anchor companies.
These sessions aimed to facilitate connections between potential MSMEs and large companies, MNCs, GLCs, and hypermarkets. During the opening ceremony, YB Datuk Ewon Benedick witnessed the signing of two MoUs – one between SME Corp. Malaysia and the Securities Commission of Malaysia (SC), and the other between SME Corp. Malaysia and Alliance Bank Malaysia. These MoUs will facilitate greater access to capital market financing for MSMEs and support the adoption of ESG practices in their businesses. The 2023 MSME Sustainability Series also saw the presence of YB Senator Puan Saraswathy Kandasami, Deputy Minister of MECD, YBhg. Dato’ Sri Suriani binti Dato’ Ahmad, Secretary General of MECD, YBhg. Tan Sri Datuk Seri Panglima Bernard Giluk Dompok, Chairman of SME Corp. Malaysia, and YBrs. Encik Rizal bin Nainy, Chief Executive Officer of SME Corp. Malaysia.
