SELANGOR – In answering Prime Minister Tan Sri Muhyiddin Yassin’s call for ‘Spend for Malaysia’, Tesco Stores (Malaysia) Sdn Bhd is putting the spotlight on its local suppliers through the ‘Buy Malaysian Products’ campaign at Selangor State Level with Tesco.
Tesco is no stranger to the ‘Buy Malaysian Products’ campaign and has been participating in the Ministry of Domestic Trade and Consumer Affairs (MDTCA)’s economic empowerment initiative for many years. However, this year’s campaign is extra important given that the economy has been negatively affected due to the COVID-19 pandemic.
The launch was also attended by MDTCA Minister Yang Berhormat Datuk Alexander Nanta Linggi, MDTCA Secretary-General Datuk Seri Haji Hasnol Zam Zam bin Haji Ahmad and various MDTCA representatives.
“We are pleased to share that 84% of sales generated for Tesco Own Brand as of the end of our financial year 2019 was from products that are locally made. This tells us that there is an appetite for and trust in locally produced products that are on par or even better than the national brands.
“This trust and appetite for local brands are more important than ever now as we seek to help revive the local economy that has been severely hit by the ongoing COVID-19 pandemic,” said Tesco Chief Operating Officer, Sushmita Paul at the launch on August 15.
Tesco currently hosts over a hundred local small and medium enterprise (SME) suppliers in its stores with products ranging from ready-to-eat cooking paste, beauty products, household cleaning products, and even confectionaries. On top of the inclusion of three new SMEs onto its shelves, today’s event also saw the retailer recognizing 15 of its existing high-performing SMEs.
SMEs play a significant part in the Malaysian economy as the segment constitutes 98.5% of total business establishments in the country, according to the Mid-term Review of the 11th Malaysia Plan 2016-2020 report.