Jefery (right) with Steven
LABUAN: SME Association of Labuan (SME Labuan), a leading association representing micro, small and medium-sized enterprises in Labuan, recently held a productive lunch meeting with the Deputy Minister of Finance II, Steven Sim, to share pressing issues faced by local businesses.
The meeting saw representatives from SME Labuan engaging in candid discussions with him regarding the challenges hindering the growth and development of SME in Labuan.
The high cost of doing business and red tape in government agencies were identified as key concerns that are affecting the competitiveness of local businesses.
During the meeting, Steven acknowledged the crucial role played by SME in driving the economic growth of Labuan, and expressed his commitment to finding solutions to the challenges faced by these businesses.
President of SME Labuan, Jefery Tan emphasized the need for greater autonomy and decision-making power for local government agencies to enable them to address local issues effectively without being overly dependent on decisions from Putrajaya.
SME Labuan proposed several recommendations to Steven Sim, including streamlining bureaucratic processes, reducing unnecessary regulations on Imported Goods, and providing more incentives and support specifically for local businesses in Labuan.
“We are grateful for the opportunity to have a productive discussion with him on the challenges faced by our local businesses.
“We believe that by working closely with the government and local authorities, we can create a more supportive ecosystem for SMEs to thrive in Labuan.” Said Jefery.
Moving forward, SME Labuan remains committed to advocating for the interests of SMEs in Labuan and working collaboratively with the government and other stakeholders to create a conducive environment for business growth. The association looks forward to further.
