Matrade Chief Executive Officer, Datuk Mohd Mustafa Abdul Aziz, said Malaysian Mid-Tier Companies weathered the storm in 2021 despite multiple lockdowns, disruption of supply chains, and shortages in raw materials and manpower.
Datuk Mohd Mustafa said Matrade believes that three key factors will strengthen the resiliency of Mid-Tier Companies in preparing to face the oncoming challenges in 2023.
- Mid-Tier Companies should be able to explore new niche areas and diversify their market outreach.
- Mid-Tier Companies sho uld immerse themselves in digitalisation, which has been the enabler and is pervasively used to improve productivity, communicate effectively, and enhance the delivery of services.
- Mid-Tier Companies should now be able to adopt sustainability practices to position their businesses at a higher level of competitiveness.
He added that in line with the 12th Malaysia Plan, Matrade will strive to create more export champions, support the government’s ongoing efforts to regenerate the Malaysian economy, and drive the growth of new sectors while striking a balance to ensure socio-economic inclusiveness and sustainability.
Media Links: The Edge Markets: Mid-tier companies show resilience, creativity amid global challenges — Matrade
The Malaysian Reserve: Mid-tier companies must explore new niches, adopt digitalisation and sustainability practices to brace challenges in 2023
About MCMTC: The MCMTC (Malaysian Consortium of Mid-Tier Companies) comprises MTCs (Mid-Tier Companies) from all industries. The MTCs form 1.7% of total companies in Malaysia and employ 16% of the total workforce, but contribute 39.9% of Malaysia’s GDP. Get in touch with us here.