MIDA Partners With HLB Islamic To Strengthen SME Entrepreneurs In Northern Region

SUNGAI PETANI, April 27 (Bernama) -- The Malaysian Investment Development Authority (MIDA) and Hong Leong Islamic Bank Bhd (HLB Islamic) today organised a special forum to strengthen the ecosystem and access of small and medium enterprise (SME) entrepreneurs in the Northern Region.

In a joint statement, MIDA and HLB Islamic said the forum themed “Strengthening Bumiputera Entrepreneurs in the Northern Region: Policy Perspectives and Current Market Trends” brought together approximately 250 SME entrepreneurs, including representatives of bumiputera companies from Kedah, Penang, Perak and Perlis.

“With comprehensive content, this programme features practical partnerships and strategic initiatives from various government agencies and institutions to support the growth of local entrepreneurs,” they said.

They said that among the main focuses of the forum were HLB Islamic’s initiatives, highlighting BizDagang and Greening Halal Business to help entrepreneurs adopt shariah-compliant green business models.

The Malaysia External Trade Development Corporation also shared strategies to penetrate international markets and improve trade management in the forum, they said.

In the forum, Bank Negara Malaysia also shared the local currency transaction framework (LCTF), while Syarikat Jaminan Pembiayaan Perniagaan Bhd detailed the government guarantee scheme (GGSM4) to increase access to credit.

MIDA also explained the new incentive framework (NIF) and the Malaysia-Singapore third-country business development fund (MSBDF), while the Inland Revenue Board shared details on the implementation of e-Invoices in current business operations. 

The highlight of the forum was a panel discussion session titled “Driving Bumiputera Champions: Access and Opportunities for Financing, Market Access, and Global Supply Chain”, featuring representatives from HLB Islamic, the Bumiputera Agenda Steering Unit, MARA, SME Corp Malaysia and Venture Tech to discuss strategies to enhance the competitiveness of bumiputera entrepreneurs.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the country’s economic strength lies in resilient local companies that can compete.

“Through initiatives such as the Enterprise Growth Platform (EGP), MIDA remains committed to empowering local entrepreneurs and connecting them to a stronger support ecosystem.

“This includes expanding access to financing, global supply chains and high-value investment opportunities,” he said. 

Sikh Shamsul Ibrahim also stressed that domestic investment remains the main driver of the country's economy, thus countering the perception that the focus is only on foreign investment. 

He said that, through the #InvestLokal campaign, the focus is on the high-growth, high-value (HGHV) sector to help local companies grow and compete internationally. 

He reiterated that MIDA’s main focus includes empowering local companies in the high-tech (technology) sector as well as creating opportunities for local companies to become strategic supplier partners to multinational companies.

Meanwhile, HLB Islamic chief executive officer Dafinah Ahmed Hilmi said the collaboration reflects their commitment to empowering local entrepreneurs, especially in the Northern Region. 

“We want to ensure they (entrepreneurs) are not only resilient, but ready to penetrate the global supply chain through Shariah-compliant financial support and strategic guidance,” she said.

Meanwhile, Kedah Industry, Investment, Higher Education, Science, Technology and Innovation Committee chairman Dr Haim Hilman Abdullah, who officiated the forum, said the state government is committed to strengthening the bumiputera entrepreneurial ecosystem in the Northern Region to make it more resilient, competitive and ready to penetrate the global market.

“The organisation of this forum reflects the close collaboration between the state government, MIDA and HLB Islamic in providing more comprehensive access to financing, markets and strategic support to local entrepreneurs.

“We are confident that, with continued support, bumiputera entrepreneurs in this state will be able to penetrate regional and global supply chains, as well as contribute to the economic growth of Kedah, and the country as a whole,” he said at the forum, which was also attended by MIDA executive director (investment promotion) Faizal Jalaludin.

The forum also offered business clinic sessions for entrepreneurs to receive direct advisory services from the participating agencies. 

-- BERNAMA