3rd National Economic Summit

1. Economic data -Msian economy expanded 5.6% in the1. Economic data -Msian economy expanded 5.6% in thefirst Qtr. Economy on track to register higher growth in2017. Productivity remains a challenge, Malaysia lags farbehind economies such as Korea, Singapore.

2. Malaysia faces challenges due to the modest globalgrowth due to the sluggish growth in the largesteconomies. ASEAN presents a great opportunity forMalaysia (strategic location)

3. SMES need to have a growth mindset and if need berelook at their current business models if they want tosurvive the rapid pace of changes and industrydisruptors. SMEs need to be agile and prepare forchange. “Get comfortable with pressure.” (Azran RaniOsman)

4. On the policy side - (i)priority to reduce the cost of doingbusiness, (ii) review the need for annual business licencerenewal (iiI) upgrade the general level of SMEs toimprove competitiveness.

5. Government initiatives (i) Malaysian ProductivityBlueprint, launched May 2017 (ii) The EmployeeInsurance Scheme (EIS) to protect employees that areretrenched. Premiums will be paid by employer &employee. expected to be launched in January 2018.This initiative is under PERKESO.

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