Malaysian Mid-Tier Companies (MTCs) continue to thrive and attain spectacular achievements amidst continuous global economic uncertainties since the post-pandemic recovery period. This was reflected in the Impact Tracking Report 2022 announced by MATRADE at MTC’s CEO Summit 2023.
The MTCs demonstrated strong resilience, creativity, and commitment and strove hard to venture into new export markets and innovative sectors, where they were able to serve the demand, as well as leverage growing business opportunities around the world.
Dato’ Seri Reezal Merican Naina Merican, MATRADE’s Chairman acknowledged the perseverance and outstanding achievements of the MTCs. He presented the Impact Tracking Report of the Mid-Tier Companies Development Programme (MTCDP) for the year 2022, where they have successfully registered RM33.9 billion of cumulative annual revenue, of which RM20.9 billion (or 61 percent) was generated from exporting activities.
Dato’ Seri Reezal Merican added, “The export revenue grew nearly 18 percent compared to the previous year. MTCs had successfully set up their footprints in 55 international markets whereby among the top markets penetrated were Australia, USA, and Greece.”
“MTCs have also bolstered the supply chain by engaging more than 9,000 micro, small, and medium enterprises (MSMEs) as their vendors or suppliers. MTCs have also created more than 5,500 new jobs, especially skilled jobs such as technicians and engineers, reflecting their commitment in upskilling, reskilling as well as cross-skilling to meet the new demand of the industries,” said YB Dato’ Seri Reezal Merican.
During this MTC CEO Summit, Dato’ Seri Reezal Merican emphasized on digitalization as another important agenda for MATRADE to strengthen the delivery of its services to Malaysian exporters. He announced that MATRADE Digital Trade Platform (MDTP) will be rebranded as “MyTRADEDIGITAL” as a holistic and inclusive online platform, offering a comprehensive solution for trade promotion and exporter’s development via digital channels. It is powered with Artificial Intelligence and will be integrated with two other digital initiatives by MATRADE, namely Single Information Portal for Export (SIPE) and Integrated Trade Events Platform (ITEP) to provide a comprehensive solution benefiting shareholders, especially MSMEs and MTCs.
Chief Executive Officer of MATRADE, Datuk Mohd Mustafa Abdul Aziz has reiterated the importance of MTCs to strengthen their global competitiveness, seize new business opportunities, and craft new strategies, targeting ASEAN markets as well as optimizing current trends in the global supply chain.
“Despite the challenges posed by the current economic uncertainties, MTCs’ abilities to embrace and adapt to global megatrends would enable them to remain resilient and competitive. These will further accelerate market expansion and integration into the global value chain,” Datuk Mohd Mustafa added.
MATRADE continues to enrich MTCs through their signature platform, MTCs CEO Summit 2023, with the theme “Energizing Export Growth, Harnessing Sustainability”. This Summit brought together more than 150 CEOs of MTCs who are the alumni of MTCDP. It aims to empower MTCs to leverage new trends of digitalization and sustainability to unlock more prospects in expanding their presence globally.
The highlight of the Summit was Fireside Chat with CEOs, sharing session featuring MTCs and Experts on “Charting Our Game Plan”. The panelists comprised representatives from Brandt International and Brainy Bunch, MATRADE, and Deloitte Consulting.
They shared their thoughts, ideas, and experience on charting new game plans for further export, initiatives that encompass sustainable growth, and the development of a sustainable supply chain. Two (2) prominent industry experts were also invited to share about the current regional market outlook, opportunities as well as how a resilient supply chain is key to running a sustainable business.
The MTCDP was introduced in 2014 as one of the Government’s high-impact initiatives in the Malaysia Development Plan, aimed to accelerate the export growth of MTCs to become regional and global champions.
In line with the MADANI Economy and NIMP 2030, MATRADE strives to create more export champions, supporting the ongoing efforts by the Government to regenerate the Malaysian economy, driving the growth of new sectors while striking the balance to ensure socio-economic inclusiveness and sustainability.
The MTCDP targets export-oriented MTCs with annual revenues between RM50 million to RM500 million for manufacturing companies and RM20 million to RM500 million for services companies. Interested companies are encouraged to contact midtier@matrade.gov.my for more details.
