Ewon: Empowering ASEAN SMEs Key to Regional Growth and Shared Prosperity

9 October 2025

KUALA LUMPUR: The future of ASEAN’s growth depends on the strength and innovation of its small and medium enterprises (SMEs), said Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.

Speaking at the ASEAN SME Economic Forum at Dewan Perdana MITI today, Ewon said SMEs are the “lifeblood of ASEAN’s economies,” accounting for over 97 per cent of businesses and employing the majority of the region’s workforce.

“SMEs are the backbone of our markets, the engines of innovation, and the heart of our economic resilience,” he said.

“Yet their contribution to regional trade and global value chains remains limited, and this represents both a challenge and an extraordinary opportunity we must seize together.”

Ewon said ASEAN, now the world’s fourth-largest economic bloc with a combined GDP of USD4 trillion, is well-positioned for steady growth driven by a young population, digital transformation and sustainability initiatives.

“The future of ASEAN’s growth will not rest solely on the shoulders of large corporations. It will depend on millions of SMEs ready to innovate, collaborate, and compete on regional and global stages,” he said.

Highlighting Malaysia’s efforts, Ewon said SME Corporation Malaysia, under the direction of the National Entrepreneur and SME Development Council chaired by the Deputy Prime Minister, plays a central role in aligning support across ministries and industry partners.

He cited a recent collaboration between SME Corp, MATRADE and SME Bank that generated RM1.19 billion in export sales, and announced the upcoming SME Venture@ASEAN 2025 at MITEC, Kuala Lumpur, which will connect SMEs, investors and policymakers across the region.

“Malaysia has committed over RM1 billion this year through SME Bank, soft loan programmes and government-backed guarantees to make credit more accessible,” he said. “We are also exploring blended financing and venture capital to support high-impact SMEs, especially in green technology and digital innovation.”

Ewon emphasised the government’s focus on digitalisation, inclusivity and upscaling, ensuring women, youth, Bumiputera entrepreneurs and cooperatives have equitable access to opportunities.

He added that under the 13th Malaysia Plan (2026–2030), Malaysia aims to accelerate SME upscaling by helping them meet international standards, including halal certification and ESG compliance, to access global markets.

On the regional front, Ewon announced that Malaysia will host the ASEAN Centre of Excellence for MSMEs in Green Transition, under the ASEAN Coordinating Committee on Micro, Small and Medium Enterprises (ACCMSME). The centre, to be launched by the Prime Minister on 24 October, will serve as a capacity-building hub for ASEAN MSMEs shifting towards sustainable and green practices.

“Malaysia warmly welcomes collaboration with experts, industry players, MNCs, GLCs and organisations to strengthen this centre for the benefit of ASEAN’s SMEs,” he said.

Calling on policymakers, investors and entrepreneurs, Ewon urged all stakeholders to align their efforts in placing SMEs at the heart of ASEAN’s economic integration.

“By empowering SMEs, we are not just empowering businesses; we are uplifting communities, strengthening nations, and building a brighter future for ASEAN together,” he said.