The National Chamber of Commerce and Industry of Malaysia (NCCIM) calls on the government to establish a RM2 billion environment, social and governance (ESG) fund to assist small and medium enterprises (SMEs) in initiating ESG commitments. Its president Tan Sri Soh Thian Lai recommended the government to include this initiative in the upcoming Budget 2024 in line with the increasing global emphasis on ESG practices. Additionally, he said NCCIM suggests measures to bolster SMEs’ global outreach, given the pivotal role of SMEs in the Malaysian economy. He noted an allocation of RM150 million is recommended to facilitate skills development and vocational training initiatives to enhance the synergy between wage increments and skills advancement.

Source: Malay Mail