Entrepreneurs often preferable to GLCs, says minister
Government Linked Companies (GLCs) in Malaysia should stick to their core businesses and let Small/Medium sized private enterprizes (SMEs) handle new directions, said Deputy Minister of International Trade and Industry, Mukhriz Mahathir. Malaysia needs to foster its entrepreneurs for economic growth and GLCs could do this by forming partnerships with the private sector, rather than trying to diversify and spreading their own missions too thin. They should also pay more attention to local innovative companies instead of always giving preference to those with names already established overseas, he said.
While Mukhriz didn’t exactly give concrete examples of the kinds of businesses he had in mind, he suggested it was high technology companies who offered the best potential for indirect economic advancement.
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