المستخلص: |
The current trend of economic growth and the rapid industrial development has made Malaysia as one of the most open economies in the world. Malaysian economy has undoubtedly passed through a considerable transformation over the last few decades from agricultural based to industry-based. Now the economy is shifting from industry- based to a knowledge-based economy to achieve the vision 2020 and to become a developed economy. SMEs in Malaysia continue to play a vital role and contribute significantly in the country’s economic development agenda. This paper has examined and reviewed the extensive literature in regard to the development of Malaysian SMEs, their various contributions to the national economy, challenges they are facing and the initiative and incentive offered by the government and its agencies. As well, recommend Lessons and Policy Implications may benefit the Libyan experience in the development of SMEs growth.
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