Singapore and Malaysia

Composition of Study Tour Team
1.Ms. Vangansuren ULZIIBAYAR, Executive Director, Mongolian Development Research Center (Coordinator of the Study Group Team)
2.Mr. Luvsannyam GANTUMUR, Member of Parliament of Mongolia
3.Mr. Mishig SONOMPIL, Member of Parliament of Mongolia
4.Mr. Davaaasuren AMAR, Researcher, MDRC




  1. Dr. Roger Low, Secretary-General, Singapore Manufacturers' Federation
  2. Ms. Emmeline Lam, Senior Director, Singapore Manufacturers' Federation
  3. Prof. Pang Eng Fong, Singapore Management University
  4. Prof. Tan Chin Tiong, Provost, Singapore Management University
  5. Mr. Alex Cheong, Deputy General Manager, Amoy Canning Corp Singapore Ltd
  6. Mr. Tan Keng Jin, Head, Public Affairs Unit, Institute of Southeast Asian Studies
  7. Mr. Chan Kan Mei, B. Com (NTU), Regional Social and Cultural Studies Programme

8. Professor Emeritus Dr. Mohamed Ariff, Executive Director, Malaysian Institute of Economic Research (MIER)
9. YBhg Dato' Dr Gan Khuan Poh, IKMAS Fellow, Institute of Malaysian and International Studies (IKMAS)
10. Mr. Mohd Ehwal Ehsan, Senior Manager, Advisory Services and Technical Support Division, Small and Medium Industries Development Corporation (SMIDEC)
11. Nor Azian Md. Yusof, Manager, Advisory Services and Technical Support Division, (SMIDEC)
12. Yuhasman Yusof, Manager, Advisory Services and Technical Support Division, SMIDEC
13. Amril Norman Nordin, Public Relations Officer, Promotion and Publication Division, SMIDEC
14. YBhg Datuk Wira Abdul Rahman bin Jamal, Executive Director, Malay Chamber of Commerce Malaysia Dewan Pusat
15. Jasmine Begum Omer, Senior Manager, Public Affairs, Legal Affairs and Administration



The study tour was conducted within the framework of the project “Role of Mongolia for Peaceful and Stable Development of Northeast Asia/Phase II” funded by the Sasakawa Peace Foundation, Japan. The main objective of the Tour was to reveal entrepreneurship environment and enterprise management in Southeast Asian countries and learn from their experiences.


The first place visited by our team was the Singapore Manufacturers' Federation (SMa) known as the Singapore Manufacturers' Association (SMA). Dr. Roger Low, Secretary-General and Ms. Emmeline Lam, Senior Director, Singapore Manufacturers' Federation welcomed us and briefed about their activities.
SMA was founded in 1932 by 17 pioneering manufacturers with the objective of representing the interests of Singapore manufacturers. Soon enough, SMA became the voice of the manufacturing sector supporting the British colonial economy.
In the 1960s, Singapore manufacturing grew rapidly after the PAP government adopted export-led growth as the strategy to spur the economy forward. Within a matter of years, the manufacturing sector became one of the main pillars of the economy, and SMA was seen as the catalyst of that growth.
The name "Singapore Confederation of Industries" (SCI) came into being in 1996. It was created with the purpose of gearing up SCI to be the umbrella body for all industries and associations in Singapore. This would have broadened SCI's scope to cover businesses in all industries, other than the narrowly defined manufacturing industries.
But with the establishment of the Singapore Business Federation in 2002, it was no longer appropriate for SCI to be named as a "Confederation of Industries". After much debate, a special task force proposed that our organization be re-named as "Singapore Manufacturers' Federation" or "SMa" for short.
The decision to retain "SMa" was to capitalize on the organization's 71 years of successful branding and goodwill. We do not want to forget our roots and the solid foundation, which we have built up over the years.
With the aspiration to become a world-class organization, SMa has revised its mission statement to: "A world-recognized manufacturing federation making a difference to its members."
SMa members will be able to look forward to a revitalizing change as SMa will re­focus its effort and energy on the broadly-defined manufacturing community. This manufacturing community includes companies that are involved in manufacturing, even those companies that do not have physical manufacturing facilities in Singapore and companies that support the activities of manufacturers.


SMa conducts the following activities:

- Organize regular dialogue sessions with other organizations, government and
quasi-government bodies as well as update members of dialogue outcomes.
- Forge closer interactions and co-operation with local and foreign government
commercial organizations.
- Act as a catalyst to bring about growth and development in the manufacturing
- Promote productivity, automation and technological upgrading in the
manufacturing and manufacturing-related services sectors.
- Create awareness and support effort to ensure product quality, environment
protection and consumer satisfaction.
- Inform members of changing commercial regulations and new technological developments so that they can operate effectively in today's highly competitive and rapidly changing business environment and take advantage of opportunities that arise.
One of the most impressive activities of SMa was its training service. The Training Services Division (TSD) aims to assist SMa members and Singapore manufacturers in maintaining and sharpening their competitive edge by offering training programs. The training programs offered aims to address the specific training needs of the companies. The TSD comprises of three core functions: SMa Training Institute, SMa Executive and Enterprise Development (EXCEED) Centre, and the SMa School of Management.

Executive Programs cover Effective Rapid Reading - Fight Information Overload, Creating Effective Mentoring Partnerships and Beyond Exposure - Interactive TV.

SMa Training Institute create the following skills: Communication Skills, Sales & Marketing Skills, Supervisory Management Skills, Customer Service Skills, Office Management Skills, Health and Safety Management Skills, Trade and Logistics and SMa Skills Certificate Courses.

SMa Executive and Enterprise Development (EXCEED) Centre focuses on:
Business Law, Business Management, Communication Skills, Human Resource Management, Manufacturing and Operation and Security Risk Assessment & Management. In addition, SMa School of Management conducts degree programs in business management.  
The next meeting took place at the Singapore Management University.
Officially incorporated on 12 January 2000, Singapore Management University (SMU) holds the unique position of being Singapore's first private university funded by the government. This flexibility facilitates SMU's aim to be a world-class university on par with the best internationally. The SMU approach to preparing graduates for an era of unparalleled choices is a focused but broad-based education. Modeled after the Wharton School of the University of Pennsylvania, one of the world's leading business schools, SMU's curriculum aims to groom outstanding business leaders and creative entrepreneurs capable of excelling in a rapidly changing and dynamic world.
Today, SMU is home to 3,000 students and comprises four schools: the Lee Kong Chian School of Business; the School of Accountancy; the School of Economics & Social Sciences; and the School of Information Systems, which has a partnership with IT-renowned Carnegie Mellon University.
To deliver the world-class curriculum, an outstanding faculty has been handpicked to advance knowledge in teaching and research. Besides recruiting some of the best academics in their field, SMU also taps successful businessmen for their specific expertise and management skills to combine academic vigour with hands-on business savvy.
The university's permanent campus, located in the heart of Singapore, will soon inject vibrancy and life into the civic district and its vicinity. Until the city campus is completed in 2005, SMU will continue to occupy the graceful and historical Bukit Timah campus, which has been completely refurbished with state-of-the-art facilities alongside its architectural charm and natural greenery.
In an era of exacting global competition for skills and innovations, SMU is primed to deliver the nurturing of diverse and relevant talents in a borderless world. This is the university of the future – now.
At our point of view, SMU vision, mission, goals and values were exemplary well defined. 
SMU Vision is "To be a premier university, internationally recognized for its world
class research and distinguished teaching."
SMU Mission is "To create and disseminate knowledge. SMU aspires to generate leading edge research with global impact as well as to produce broad-based, creative and entrepreneurial leaders for the knowledge-based economy. SMU is committed to an interactive, participative and technologically-enabled learning experience. Towards this end, it will provide a rewarding and challenging environment for faculty, staff and students to kindle and sustain a passion for excellence.
Strategic Goals are “Attract and sustain the finest Faculty, Attract outstanding
students, Identify and appoint key academic leaders, Build external linkages and
support and Build excellent infrastructure to support mission.”
Shared Values are “Commitment to the SMU Mission, Integrity , Responsibility ,
Collegiality, Leadership and Excellence.”
In terms of research resources, SMU aims to attract both aspiring and experienced research members to join its faculty to generate leading-edge research with a global impact. By leveraging on a technologically-enabled research environment, SMU seeks to facilitate ongoing and future projects that will yield the best outcomes, to assist faculty through the entire process right up to the final stage of the publication of research
To support and fulfill this vision, SMU has put together a pool of research resources and tools -to aid the faculty in their research efforts. This research infrastructure spans from robust hardware, cutting-edge software and applications to a ready pool of manpower resources for data-mining and field-marketing purposes. In addition, the Center for Academic Computing (CAC), tasked specifically to provide dedicated research IT support (IT infrastructure, research resources and state-of-the-art tools) will help faculty jumpstart research endeavours quickly and hassle-free through the provision of the latest know-how and IT features which are industry-leading and relevant to today’s knowledge -based economy.
Currently, SMU offers programs in Bachelor of Accountancy , Bachelor of Business Management, Bachelor of Science, Bachelor of Science (Information Systems Management), Bachelor of Social Science, Double Degree Program, MS in applies Finance, MSc in Wealth Management and Local Exchange Program.
According to the SMU Provost, the University strongly encourages its students to broaden their outlook and experience abroad by participating in its international exchange programmes, study trips, study missions and overseas attachments. SMU aims to send as many students as possible to go on exchange and currently accommodating 100% of the applicants to the Student Exchange Program.
Also, students may study overseas for one or two terms to gain invaluable exposure to different cultures, education systems and work practices. Under the exchange program, students can choose to study overseas among the universities that have signed collaborative agreements with SMU and according to the course units that they have chosen within the term or year of their exchange.
In the middle of our visit to Singapore, we went to Amoy Canning Corporation. The corporation is the only meat canning factor in Singapore. It was established in 1951 in Singapore but its history started in 1908 in China. Amoy Canning’s canned curry meat products capture 1005 market share in Singapore with its own brand, AMOCAN, and private label brands.
Key advantages of Amoy Canning are strong R&D and high food quality standard. Amoy Canning advances and creates new products for the new generation while continuing the manufacturing of traditional products all the time. Currently, the corporation is launching vegetarian canned food, chicken tonic soup and Singapore style western soup.
According to Mr. Alex Cheong, Deputy General Manager, Amoy Canning is ready to help entrepreneurs from developing countries including Mongolians with their old equipment and machinery and is developing such kind of cooperation in Vietnam. We tested their products and it was a real authentic local flavor from mystery ingredients and cooking methods.
The last meeting in Singapore took place at the Institute of Southeast Asian Studies (ISEAS).  I were welcomed by Mr. Tan Keng Jin, Head, Public Affairs Unit and Dr Denis Hew, Fellow and Coordinator Regional Economic Studies ISEAS. The latter made a presentation for us on “ASEAN: Current Economic Developments and Strategic Issues”
According to Dr. Hew, economic recovery in the region is well under way, underpinned by robust growth in the global economy, in 2004, global output is projected to grow by 5 per cent while world trade volume (goods and services) will expand by 8.8 percent and stronger global growth has been driven by economic rebounds in the US, Japan and the European Union (EU) as well as rapid economic expansion in China.

World Economic Outlook & Major Economies
2002  2003  2004F  2005F
World  3.0  3.9  5.0  4.3
US  1.9  3.0  4.3  3.5
Japan  -0.3  2.5  4.4  2.3
Euro Area  0.8  0.5  2.2  2.2
China  8.3  9.1  9.0  7.5

Source: IMF

He also informed about Regional Economic Growth in 2004. The ASEAN region is expected to register a strong GDP growth rate of 6.2% in 2004. Robust growth in regional economies has been underpinned by increased industrial production in major economies, sustained demand from China's booming economy and an upturn in the electronics industry. Exports from the region are forecast to increase by 13.9% in 2004 with many countries projecting double-digit growth rates.

Accordingly, regional economies have the following picture in 2004. Singapore, Malaysia and Vietnam are the regional star perfonners in terms of economic performance in 2004. Singapore's economy is expected to expand by 8.9% while both Malaysia and Vietnam are projected to grow 7.5%. Other Southeast Asian countries such as Thailand and Laos are also expected to register healthy GDP growth rates.
Further, Dr. Hew briefed about Business Environment. Private investment has been picking up in Southeast Asia after several years of contraction or lackluster growth. Progress made in reducing non-performing loans, low interest rates and higher capacity utilization have all contributed to the revival of the business environment. However, fiscal deficits continue to persist in many Southeast Asian countries while public debt has been on the rise viz. Philippines. Inflation is expected to stay moderate in the region with monetary policies. Relative peaceful elections in the Philippines, Malaysia and Indonesia augur well for the region's short to medium term growth prospects. Political stability, improved business investment and consumer spending will keep the region's growth fairly robust over the next 2 years.


1. Providing a Pro-Business Environment: There are two broad prongs to Singapore's strategy to help grow SMEs. The first, and more important, prong is to provide an overall business environment conducive to the growth of enterprise, big or small.

Singapore is seeking to remove regulatory impediments that stifle businesses. It is also systematically reviewing and streamlining the number of licenses and licensing requirements for setting up businesses. To encourage enterprise, corporate and top-tier personal income tax rates has been lowered to 22%, with plans to further reduce them to 20% within 3 years. The bankruptcy laws have been revised as part of an effort to foster a culture more tolerant to risk-taking and failure! In addition, to safeguard competition and help forestall any abuse of dominance, a competition law within 2-3 years is on the cards.

2. Strengthening the Competitiveness of SMEs: Besides working on a pro­business environment across the board, the government also seeks to boost the growth of the SME sector by helping SMEs themselves to build capabilities, so they can better compete. There are 3 guiding principles underlying Government's help to SMEs.

i. The Government's assistance programmes for SMEs are designed to help companies who take the initiative to upgrade themselves. Grants under the Local Enterprise Technical Assistance Scheme (LETAS), which helps the company acquire external advice to improve its operations in areas such as financial management, IT usage and quality control, are limited by a funding cap of 70%. This co-funding approach ensures that the companies receiving assistance assume ownership and responsibility for their upgrading projects.
ii. The government tries to help SMEs by strengthening their capabilities - by improving their access to critical resources such as training, technology and finance. This is a better and more effective approach than giving SMEs preferential access to demand, e.g. in government procurement policies. SMEs that compete for contracts in the marketplace will ultimately be more resilient.
iii. Assistance schemes for SMEs are designed to rely and leverage on market players. For instance, in the Local Enterprise Finance Scheme (LEFS), credit assessment and judgements on loan worthiness are left to participating financial institutions, with the Government stepping in to co-share default risks. Similarly, instead of using a public agency to provide training or advice on capability upgrading for SMEs, the Government provides partial funding for companies to engage private sector training providers or consultants.

3. Shifting the Focus in SME Assistance-Creating Synergies: The above guiding principles underlying Government's help to strengthen the competitiveness of SMEs remain relevant to the future. However, the focus of Government assistance for SMEs has evolved from one catering to individual companies to one centred on cluster development.
Singapore's SME developmental assistance was targeted mainly at individual companies. Loans and grants were provided to small companies to improve their business operations and manpower capabilities. The scope of this firm-level assistance has broadened from a focus on finance and technical skills to fostering the acquisition of softer capabilities such as financial management, quality assurance, and branding.
While a firm-based approach has helped individual SMEs strengthen their internal capabilities, this approach by itself was sub-optimal. They were not creating the synergies, and exploiting positive externalities, that could be derived from a more integrated approach involving other industry players. They thus began to embark on a cluster development approach, which aims to strengthen linkages between suppliers, complementary players and supporting firms within various industry sectors by fostering greater collaboration and co-operation.
Government assistance programmes such as the Local Industry Upgrading Programme (LillP) and Business Upgrading through Inter-linkages Development (BUILD) encourage MNCs and large local enterprises to share their expertise with their smaller supply chain partners. The larger companies also benefit from having more reliable and efficient suppliers and distributors, creating a win-win situation. The Industry Productivity Fund encourages players in an industry to work together to raise the productivity of the cluster.


1. Availability of Finance: Financing is arguably the number one problem faced by SMEs in any country. In Singapore, the problem is exacerbated by a small market, which makes it less viable for financial institutions to devote resources to building expertise on SME financing.
The Start-Up Enterprise Development Scheme (SEEDS) was launched in October last year to help embryonic companies with innovative ideas to raise funds through matched equity financing by the government. The country attempts to explore mechanisms to strengthen the private equity market for early and mezzanine stage companies.
SMEs at the expansion stage, where loan financing is more typically obtained, also face difficulties in getting funding. Government introduced assistance schemes such as LEFS, the Micro Loan Program and the latest Loan Insurance Scheme that which will make loans more accessible to SMEs. However, the Government wants to see how it can encourage eithe r existing or new financial players to develop other forms of debt financing. One option is cash flow financing, which will require banks to build up the expertise to make cashflow projections and monitor companies' positions on an ongoing basis. The Government also feels necessity in helping SMEs to improve their financial management and accounting transparency in order to make them more loan worthy.
2. Taking SMEs International: International Enterprise (IE) Singapore (previously the Trade Development Board) was reoriented in April this year to focus on helping local companies grow and internationalise. IE Singapore offers a range of services to help them shorten the internationalisation learning curve, develop marketing and distribution channels, and make the right connections. It is building up its network of overseas centres and business support offices to provide market intelligence, advice, and on-the-ground facilitation.

3. Providing a Springboard for Foreign SMEs: The final challenge is to foster on cross-border SME alliances and collaboration in today's globalized markets. The government wants to attract SMEs from all over the world set up business here, and use Singapore as a springboard into the region and beyond. The presence of foreign SMEs should encourage the cross-fertilization of ideas, expertise and best practices, and help our own local SMEs gain competitive strengths. Foreign SMEs can benefit from Singaporean strong economic ties with the region and the major markets, a growing pool of venture capital, and our advanced logistics and communication networks.

Interestingly, China's Ministry of Science and Technology has decided to base its first overseas hightech enterprises innovation centre in Singapore, with further plans for a national-level trade promotion office here. It complements several other foreign enterprise incubators operating in Singapore, including a French, a German, a Korea and a Japan Centre.
For every dollar raised from an independent third party investor by the start-up, the government will invest a matching dollar, up to maximum of $300,000. 50 companies have since benefited under this scheme with $28 rrrillion of funds raised.
To make things convenient for foreign SMEs, IE Singapore has set up an International SME Business Centre (ISBC), which provides ready facilities at affordable prices and flexible terms for them to set up a presence in Singapore quickly. It also offers business matching services to help them form partnerships with local SMEs through the Partner Singapore program.


SMEs play an integral role in supporting the next stage of growth in Southeast Asian countries including Singapore. This requires bold policy changes to foster a more conducive environment for all businesses, and competitive markets. It also requires innovative programmes to help SMEs develop capabilities and compete effectively on a level field.


The first meeting in Malaysia took place at Malaysian Institute of Economic Research (MIER) with Professor Emeritus Dr. Mohamed Ariff, Executive Director, MIER.
The Malaysian Institute of Economic Research (MIER) was incorporated as a company limited by guarantee on 30 December 1985 and began operation on 2 January 1986. MIER is an independent, private, non-profit organization, devoted to economic, financial, and business research that would serve as a think-tank for the government and the private sector. It was first mooted in the Prime Minister's Economic Panel and later promoted by the Council on Malaysian Invisible Trade (COMIT).
MIER was established to undertake independent and high-quality problem-oriented research on economic, financial and business issues facing the country. This goal has been stretched to cater for the research needs of countries outside Malaysia as well. In undertaking this task, MIER pursues the following objectives:
- serve as a focal point for economic, financial and business research for the nation as well as the region;
- undertake economic research projects commissioned by clients in the public and private sectors, both domestic and foreign;
- collaborate with other research institutes at home and abroad;
- publish and disseminate the results of its research work, and organise symposia and conferences to promote exchange of ideas and views; and
- provide occasional training for officials from government agencies and private-sector organisations.
MIER mission is conceived as a world-class think-tank, Malaysia's centre of excellence for independent research on economic issues for the country and its links in the region. It is committed to serve the government and private sectors as well as the public at large by providing an objective and impartial understanding of socio-economic issues of national, regional and global importance.
MIER's long-term plans are deeply-rooted in two elements: (1) its dedication to economic research and training services; and (2) its perception of its role in the rapidly changing national, regional and international contexts. MIER is totally committed to sustain that dedication and to pursue that role. Plans are in place to expand MIER's outfit and outreach. By enlarging and enhancing its research capabilities and supporting infrastructure, MIER is determined to play an increasingly useful part in the economic growth and development of Malaysia.

Major Activities of MIER are to monitor and analyze the developments of the Malaysian economy, business environment and international economic trends and to undertake research projects commissioned by government agencies, corporate bodies, businesses, and international and donor agencies. To meet these objectives, MIER focuses on the macroeconomic trends and forecasting, policy studies, industry studies and area studies.

The Macroeconomic Trends and Forecasting Division monitors, analyses and forecasts current and future developments in the Malaysian, regional and world economies and disseminates its findings to policymakers, industrialists, bankers, and business people. The main strength of this division lies in forecasting and modelling activities and undertaking research in the realm of macroeconomic indicators, sectoral forecasts and current developments relating to commodity prices, international trade, international capital flows, external payments, exchange rates, etc.

The Policy Studies Division carries out in-depth and practical research on a wide range of areas which include economic policy and planning, banking and finance, human resource development and management, agricultural and industrial development, international trade, investment, services and environment. The main purpose of these studies is to provide inputs and guidelines for long-term policy formulations and investment decisions. The main thrust of these studies, which partly represent commissioned works, lies in discovering major changes in the domestic, regional and international scenes that call for appropriate policy shifts and adjustments.
The Industry Studies Division analyses trends and changes in the domestic and foreign markets of major industries, technological developments and competition in the marketplace, and feasibility and viability of new ventures. The scope of this division's research encompasses primary industries, manufacturing and services. These studies, which also represent in part contract research, provide the government and industrialists with useful information and inputs for investment and other business decisions.
The Area Studies Division conducts regional and sub-regional studies where these may positively benefit Malaysia's economic development. The main purpose of this division is to provide a window for MIER to go regional and international in the wake of the opening up of newly emerging economies in Indochina, Central Asia and other parts of the world. Studies by this division assist these countries in their development planning, human resource development and integration of their economies into the global economy through bilateral, regional and multilateral channels.
MIER offers business consulting to stockbrokers, international fund managers, unit trusts and other investment agencies on the current macroeconomic trends and policy directions. In addition, it also provides comments on current issues to clients upon request.
MIER has established extensive institutional linkages with research institutes and universities, both at home and abroad, not only for the exchange of publications and research output, but also for active collaboration and cooperation in its research efforts.
The Institute's networking covers many universities and thinktanks in several countries including Canada, Indonesia, Japan, Korea, Malaysia, Singapore, Thailand and the United States. There are plans for the expansion of this network. MIER also hosts, from time to time, a number of research interns, both local and foreign.
MIER holds seminars, conferences and forums, both at national and international levels, on a regular basis, not only to disseminate its research findings but also to enhance academic exchanges, in which foreign and local scholars and specialists present their views and ideas. These include National Economic Briefing (NEB) which is conducted twice a year and National Outlook Conference (NOC) at the year-end. In addition, MIER holds Brown Bag Seminars, which represent informal brainstorming sessions over lunch. MIER offers also short-term training programs for government officials and business executives.
Publications form an important activity of MIER with its dual aims of publicizing the work of the Institute to the public and fellow researchers, and disseminating its research findings. These comprise periodical publications, discussion papers, conference proceedings, monographs and research reports. The MIER Weekly Bulletin and MIER Monthly Monitor closely tracks short-term developments in the Malaysian economy as well as important external economic happenings. The Survey of Business Conditions, Survey of Consumer Sentiments and Economic Indicators Report are released quarterly. The Malaysian Economic Outlook provides a forecast of the Malaysian economy and is released every quarter, incorporating the latest economic developments. It also contains box articles on current issues. In addition, the Institute also publishes an annual journal called MIER Economic Perspective, which provides a summary of selected papers from MIER conferences and other research work done at the Institute, including a synopsis of economic forecasts.
Next we visited the Institute of Malaysian and International Studies or IKMAS established in 1995 as a center for research and post-graduate teaching in the field of social sciences and humanities within Universiti Kebangsaan Malaysia or UKM.
Main research questions of IKMAS are Engaging with Globalization (how globalization impacts upon various dimensions of state & society) and Redefining globalization (Making globalization discourse more global from perspective of developing countries and Who are winners & losers: Captors & captives?).
One of the last projects implemented in 2002-2004 of the Institute attracted our attention. The theme of the project in which 18 fellows and associates have been involved was Globalization, Culture & Inequalities and funded by Nippon Foundation. Output of the project was a book “Globalization, Culture & Inequalities” 1. The book
1 Abdul Rahman Embong (ed.). 2004: Globalisation, Culture & Inequalities: In Honour of the Late Ishak Shari. Bangi: Penerbit UKM
addresses 5 research questions: Discourses of globalization, Country Responses to Globalization, Income Distribution, Poverty & Income Inequality, Globalization, Industrialization & Competitiveness and Knowledge, Culture & Politics which are highly salient in Mongolia as well.
On the second day of our visit, we visited Small and Medium Industries Development Corporation (SMIDEC) of Malaysia.
SMIDEC was established on 2nd May 1996. It is a unit under Advisory Services and technical Support Division under the Ministry of International Trade and Industry. The establishment of SMIDEC was in recognition of the need for a specialized agency to further promote the development of Small and Medium Industries (SMls) in the manufacturing sector through the provision of advisory services, fiscal and financial assistance, infrastructural facilities, market access and other support programs.
SMIDEC strives to create resilient and efficient Small and Medium Enterprises (SMEs), able to compete in a liberalized market environment. The Corporation will promote SMEs to be an integral part of the country's industrial development capable of producing high value-added parts, components and finished products. SMIDEC will serve as the national focal point for the overall development of SMEs in the country.

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