MDEC makes SME digital transformation a 2025 priority in Malaysia

Source: MDEC. MDEC CEO Anuar Fariz Fadzil said that SMEs should view
technology as an investment for unlocking growth, enhancing
competitiveness and future-proofing their businesses.

The Malaysia Digital Economy Corporation (MDEC), under the purview of the Ministry of Digital, is on a mission to accelerate digital transformation at small and medium-sized enterprises (SMEs) nationwide.

Aimed at empowering SMEs with the tools, knowledge and support needed to embrace digitalisation and thrive in the digital economy, the initiative was announced by Malaysia Minister of Digital YB Gobind Singh Deo.

The programme is designed to address state industry-specific challenges faced by SMEs in adopting and scaling digital transformation. It also aims to codevelop actionable solutions with stakeholders, to create a supportive ecosystem for digital enterprises to flourish, to facilitate dialogue sessions to share insights and best practices, while also nurturing and enhancing partnerships that accelerate digital adoption and innovation for the greater good of the SME community.

The initiative began with the northern state of Penang this week. It includes an engagement programme with Penang-based SME associations in the newly-opened Ministry of Digital’s Zon Utara Office in George Town.

In his address at the launch event, MDEC CEO Anuar Fariz Fadzil said that SMEs should view technology as an investment for unlocking growth, enhancing competitiveness and futureproofing their businesses.

“Technology is a necessity in today’s rapidl-evolving landscape. By adopting digital tools and innovative solutions, SMEs can significantly improve their efficiency, reach and resilience in the global market – while also realising greater productivity and operational efficiencies,” said Anuar.

“At MDEC, we are dedicated to providing SMEs with practical digital solutions to enhance efficiency and competitiveness.”

The engagement programme reflects the Ministry’s and MDEC’s commitment to building a thriving digital economy that benefits the entire nation, from businesses to the rakyat. To date, RM30.96 million has been awarded to Malaysia Digital (MD) grant recipients in Penang, with 173 companies in the state already achieving MD status.

“We look forward to welcoming more companies to achieve MD status, fostering greater innovation and creating a clear pathway for driving growth and competitiveness,” said Anuar.

The MD status aims to support businesses involved in digital and technological activities, fostering growth and cultivating a more dynamic and supportive environment for digital enterprises. Companies with MD status can enjoy tax incentives, grants and funding, business matching and access to networks. To further encourage more companies to embark on obtaining the MD status and enjoy its benefits, an additional initiative will be unveiled by the Ministry in the near future.

The new initiative aims to help SMEs enhance efficiency and reduce operational costs by up to 20% through customised digital solutions that address specific business needs and challenges.

“It entails understanding their pain points and providing targeted solutions that align with their operational goals and industry demands,” explaine Anuar.

Explore

Get more information on digital economy initiatives and programmes at mdec.my

SMEs in Penang can visit Kementerian Digital’s Zon Utara Office at Bangunan U.A.B., Gat Lebuh China, George Town, Penang.