KUALA LUMPUR (Oct 24): Malaysia's success will depend on its ability to elevate many small and medium enterprises (SMEs) into key industry players and help them penetrate international markets, said Prime Minister Datuk Seri Anwar Ibrahim. 

He said that although the gap among SMEs remains large, the companies' capabilities and contributions are high. 

“But if we can help tens of thousands of SMEs rise to become important industry players, leveraging their tenacity, innovation and creativity, and succeed in penetrating international markets, that will be the determinant of our success,” he said when speaking at the Industry Excellence Award Ceremony (AKI) 2026 at Menara Miti here on Friday night. 

Anwar, who is also finance minister, said the country's strength lies in the large number of SMEs, as well as cooperation with giant firms. 

He said that, on the recommendation of the Ministry of Investment, Trade and Industry (Miti), particularly its minister, Datuk Seri Johari Abdul Ghani, the Ministry of Finance has placed a strong focus on SMEs in Budget 2027 through initiatives including loan financing, research funding, and several other incentives.

He said that bold, positive steps have been taken to ensure the budget focuses on raising the capacity of small and medium industries. 

He said the initiatives in the recent budget take into account industry players’ proposals and feedback after being evaluated against the country's capabilities. 

Anwar also emphasised that industry needs to be upgraded and modernised, as efforts to raise the economy's level cannot rely on an old, outdated approach. 

He said the industry's dynamic nature demands readiness to bring about rapid change, noting that Miti's leadership showed a more open attitude and was not bound by old norms and thinking. 

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