Sustainable Economic Development a priority

11 August 2024

By AVV

PENAMPANG: United Progressive Kinabalu Organisation's (UPKO) goal demands them to strive for sustainable economic development and equal distribution of wealth across all regions and segments of society.

It's President Datuk Ewon Benedick who is also the Minister of Entrepreneur Development and Cooperatives, said he had announced the performance report of Micro, Small, and Medium Enterprises (MSMEs) and the cooperative movement for the year 2023, showing a more outstanding performance compared to 2022.

Speaking during the UPKO National convention held here today, he said in 2023, MSMEs contributed 39.1% to the Gross Domestic Product (GDP) with a value of RM613.1 billion compared to 38.6% or RM584.1 billion in 2022, representing a growth of 5.0%.

"The export value of MSMEs also increased to RM152.2 billion compared to RM145.6 billion in 2022, representing a growth of 4.5%, making the contribution of MSMEs to the country's exports at a rate of 12.2%," he said adding that MSMEs also employed 7.86 million workers with a 48.5% contribution to the national labor sector, representing a growth of 3.5% compared to 2022 at a rate of 48.2%, or 7.59 million workers.

The national cooperative movement achieved a total revenue of RM64.56 billion in 2023 compared to RM45.5 billion in 2022, he said.

"For Sabah, the Ministry of Entrepreneur Development and Cooperatives (MEDC) and its seven financing agencies including Bank Rakyat, SME Bank, Cooperative Commission of Malaysia, TEKUN Nasional, Amanah Ikhtiar Malaysia, SME Corp, and PERNAS have disbursed a total financing amount of RM953,904,453.60 (RM953.9 million) to 53,044 MSMEs and cooperatives in Sabah."

" In line with the party's goal of promoting economic development, I want our party and divisions to succeed in the initiative "1 Division, 1 Cooperative, 1 Association, 1 Success Story" to motivate our people's participation in economic activities, entrepreneurship, and cooperatives, and to spark success stories starting from villages and towns," Ewon said.

We want not only party members but also the general public to continue to be part of the excellent achievements of MSMEs and our national cooperatives. Our party must empower the people with guidance, becoming mentors and facilitators of public affairs so that they not only earn income through entrepreneurship and cooperatives but also contribute to the economy and the nation's progress.

" That's why we have positioned party leaders in appointments to government agencies to ensure the success of this party's policy. We want the "look East policy within the country" to begin at MEDC. "

"As the Minister of Entrepreneur Development and Cooperatives, I will continue to secure the commitment of the Prime Minister and the MADANI Government so that this ministry can focus more on promoting the participation of Indigenous peoples and the Borneo region in the country's entrepreneurship and cooperative development."

" Our party must advocate for the implementation of the United Nations Sustainable Development Goals (UNSDG) by developing Indigenous resources to generate income and eradicate poverty, as well as by embracing Environment, Social, and Governance (ESG) culture in our people's economic activities, and striving to enhance participation in high-growth and high-value sectors."