BUSINESS

SME Bank brings nine O&G firms to Abu Dhabi export mission

09/11/2022 07:27 PM

KUALA LUMPUR, Nov 9 (Bernama) -- SME Bank has brought nine Malaysian oil and gas companies to participate in the Export Acceleration Mission to Abu Dhabi in conjunction with the Abu Dhabi International Petroleum Exhibition and Conference 2022 from Oct 30 to Nov 4, 2022.

In a statement today, SME Bank, also known as Small Medium Enterprise Development Bank Malaysia, said the nine are the bank’s participants in its Business Export Programme and Vendor Capacity & Capability Development Programme.

SME Bank president/group chief executive officer Datuk Aria Putera Ismail said in a statement today that there is an urgent need for SMEs to expand and make a global presence with economic fundamentals improving.

He said both the export and the vendor capacity programmes are the best platforms to expand their market reach. 

He said the Entrepreneur Development and Cooperatives  Ministry (KUSKOP) has channelled RM9.5 million to implement the export programme and RM5.48 million to the vendor capacity programme due to their significant impact on SMEs’ export performance.

The Abu Dhabi mission is led by the bank’s group chief corporate strategy officer Datuk Mohammad Hardee Ibrahim who said that the goal of the export programme is to nurture and develop more Bumiputera exporters between 2020-2025.

“SME Bank is targeting 47 companies to enter new markets or expand their existing markets to record additional sales,” he said.

As for the vendor capacity/capability programme, its goal is to increase vendors’ involvement in the domestic and international markets via accreditation and certification and to build up their competitiveness and resilience using technology.

The bank said the vendor capacity/capability programme helps companies to focus on market needs and to optimise productivity.

Grants worth more than RM2 million were approved for 26 applicants for capacity building and machinery/system upgrades as of October this year.

The Export Acceleration Mission to Abu Dhabi is a collaboration between SME Bank, KUSKOP and the Malaysia External Trade Development Corporation.

-- BERNAMA

 

 

 

 

 


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