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KUALA LUMPUR: A total of 32,469 small, medium and enterprises (SMEs) have withdrawn since March, when the motion control order (MCO) was first implemented to stop Covid-19, says the Ministry of Business Development and Cooperatives.
The Ministry, citing statistics from the Malaysian Enterprise Commission (SSM), said 9,675 SMEs closed operations during the first phase of the MCO from March 18 to June 9.
During MCO’s recovery phase from June to September, 22,794 SMEs closed.
August recorded the highest figure, with 17,800 SMEs that retired during that month.
The ministry gave the statistics in a written parliamentary response dated November 5 in response to June Leow (PH-Hulu Selangor), who asked how many SMEs have withdrawn since the MCO was enforced.
Meanwhile, the ministry said its survey found that microentrepreneurs were the hardest hit by the economic consequences of Covid-19, as most of them have yet to receive assistance from the government.
To address this issue, he has proposed to the government to increase the current Covid-19 special financial relief for entrepreneurs.
He also proposed expanding product development training and diversifying promotion programs and marketing centers to increase product demand and market access.
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