Kuala Lumpur, Malaysia – The Malaysia Digital Economy Corporation (MDEC), under the purview of the Ministry of Digital, has rolled out an intitiative to accelerate small medium enterprises (SMEs) digital transformation nationwide, starting with the northern state of Penang.
Said initiative is aimed at empowering SMEs with the tools, knowledge and support needed to embrace digitalisation and thrive in the digital economy
The programme was designed to address state industry-specific challenges faced by SMEs in adopting and scaling digital transformation.
It also aimed to co-develop 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.
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 to the SME community present at the event, MDEC CEO Anuar Fariz Fadzil said that SMEs should view technology as an investment for unlocking growth, enhancing competitiveness and future-proofing their businesses.
“Technology is a necessity in today’s rapidly 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,” Fariz said.
He added, “At MDEC, we are dedicated to providing SMEs with practical digital solutions to enhance efficiency and competitiveness. We look forward to welcoming more companies to achieve MD status, fostering greater innovation and creating a clear pathway for driving growth and competitiveness.”
This 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.
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. It offers a variety of benefits to companies with the MD status, including tax incentives, grants and funding, business matching and access to networks.
To further encourage more companies to embark on the MD status and enjoy its benefits, an initiative will be unveiled by the Ministry in the near future. It aims to help SMEs enhance efficiency and reduce operational costs by up to 20% through customised digital solutions that address their specific business needs and challenges.
