KUALA LUMPUR, Jan 17 (Bernama) -- Market development grants (MDG) will be increased four-fold to RM52.5 million this year, from RM12.34 million allocated last year, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

He said the eligibility ceiling for the grant has been raised from RM30,000 previously to RM100,000 per company under the MDG scheme aimed at assisting small-and-medium enterprises (SME) gain market access.

Mustapa also said the Malaysia External Trade Development Corporation (MATRADE) would introduce an online application system to make it easier for exporters to take full advantage of the scheme.

"Last year, 1,300 SMEs benefited from these grants, whose total value was RM12.34 million," he said during a MATRADE programme with entrepreneurs and exporters today.

He urged local entrepreneurs and exporters to do what is necessary to become more competitive.

"There have been instances when we brought in potential buyers but some of our suppliers did not even bother to come to the business mettings that MATRADE had arranged," he said.

He said the Ministry of International Trade and Industry (MITI's) objective is to help improve market access for Malaysia's products and services overseas.

-- BERNAMA