KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) will intensify efforts to expand Malaysia’s export markets and strengthen the country’s export performance through initiatives under Budget 2027.
Deputy Minister Sim Tze Tzin said the Malaysia External Trade Development Corporation (MATRADE), under MITI, would lead export development efforts through a RM60 million Export Capacity Building Programme and a RM50 million Export Strengthening and Market Diversification Fund.
These initiatives will be supported by RM1 billion in financing facilities from Bank Pembangunan Malaysia Bhd (BPMB) and RM10 million through EXIM Bank.
Sim said the programmes would involve 200 export promotion activities, directly benefiting more than 3,500 local companies, with a target of achieving RM12 billion in export sales by the end of 2027.
He added that efforts to facilitate business operations would also be strengthened through collaboration between the Malaysia Productivity Corporation (MPC) and the Special Task Force on Agency Reform (STAR) to reduce bureaucratic hurdles.
These regulatory reforms have so far generated RM3.71 billion in industry compliance cost savings and helped accelerate business licence approvals, he said.
Meanwhile, MITI will prioritise the development of viable regional industrial clusters to promote more balanced economic growth across the country.
Sim expressed confidence that the comprehensive and integrated initiatives would enhance Malaysia’s position as a leading regional investment destination and a sustainable global trade hub.
Strategic priorities include advancing the Johor-Singapore Special Economic Zone (JS-SEZ), developing automotive and maritime hubs in Perak, and strengthening the semiconductor chip technology ecosystem in Penang and Kedah.
The initiatives will also cover the expansion of trade corridor infrastructure in Perlis and the development of a planning framework for a Special Economic Zone in Sibu, Sarawak.
-AWANI
