Prime Minister Anwar Ibrahim said the initiative was part of the Madani government’s strategy to ensure economic stability and safeguard national interests in the short- to medium-term following the reciprocal tariffs imposed by the US on Malaysia.

“Among the measures to be implemented is assisting small and medium enterprises (SMEs) in penetrating new markets through participation in international trade expos and exhibitions, as well as facilitating business matching with foreign buyers,” he said during the special parliamentary meeting in the Dewan Rakyat on the US tariffs today.

Anwar said the government would continue encouraging efforts to attract global businesses and talent to Malaysia, including academics from leading universities, especially in sectors of national priority such as artificial intelligence.

“We have begun to see expressions of interest from prominent figures in science and professional fields in relocating to Malaysia,” he added.

RM1bil to assist SME exporters

Anwar also said the government had agreed to raise the guarantee allocation under Syarikat Jaminan Pembiayaan Perniagaan Bhd by RM1 billion to help SMEs affected by the tariff announcement secure loans from commercial banks.

He said the government had also approved an additional RM500 million in soft loans offered through development financial institutions to assist affected SME entrepreneurs.

“The government will continue to monitor developments and is prepared to provide targeted assistance to SMEs that are directly affected.

“The tariff has a negative impact on global supply chains and trade, especially for SMEs… This is disruptive to Asean’s economic stability,” he said.