‘Believe in Our Own Products First,’ Steven Sim Tells KUSKOP

Minister of Entrepreneur Development and Cooperatives Steven Sim Chee Keong has called on the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) and its agencies to unite behind a single national mission to strengthen local enterprises under the theme “Hebatkan Perniagaan Malaysia”.

Delivering his 2026 Minister’s Address at Dewan Tun Abdul Razak, Bank Rakyat Twin Towers, Steven Sim said Malaysia’s long-term economic strength depends on how well its businesses, particularly small and medium enterprises and cooperatives, can compete in an increasingly aggressive global economy. He reminded the audience that Malacca was once among the world’s richest trading cities, not because of political slogans, but because its merchants were wealthy and its products were in global demand.

“In today’s world, countries compete through their economies,” he said. “If we want Malaysia to survive and thrive, our businesses must be strong, productive, and competitive on the global stage.”

Steven Sim said KUSKOP must focus its efforts on four clear priorities known as the ABCD strategy: accelerating productivity, reducing bureaucracy, improving access to capital, and driving market access. He stressed that government should act as a catalyst rather than an obstacle to business growth, and that all programmes, policies, and resources within the ministry should be aligned to these goals.

He also highlighted the potential of Malaysian brands, pointing out that many local products are already comparable to international names. According to him, global brands did not begin with overseas markets but were first supported by their own citizens.

“Before the world believes in our products, we must believe in our own products first,” he said.

Addressing challenges faced by local businesses, Steven Sim noted concerns over high production costs, financing pressure, and limited visibility in the market. He said financial institutions must play a stronger role in easing access to funding, while retailers, digital platforms, government procurement, and GLCs should help ensure Malaysian products are more visible and accessible to consumers.

He also proposed a nationwide initiative to create dedicated spaces for local products, both online and offline, and said KUSKOP must lead by example by prioritising Malaysian-made products in its own procurement and official activities.

“We are not supporting local products out of charity,” he said.

“We support them because we want Malaysian businesses to grow into strong, competitive, and eventually international brands.”

Steven Sim added that recent wage increases and government assistance programmes provide timely momentum to strengthen domestic demand, urging KUSKOP to use this opportunity to reinforce the local business ecosystem and build a more resilient national economy.

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