- Aims to boost MSME competitiveness and resilience through digital adoption
- Fund enabled through public-private partnerships with govt agencies & partners
The Malaysia Digital Economy Corporation (MDEC), under the purview of the ministry of digital, together with implementation partners, has announced the upcoming availability of a total cumulative fund of approximately US$338 million (RM1.5 billion) to support business digitalisation initiatives across the nation.
The fund, made possible through strategic public-private partnerships among government agencies and supporting partners — including financial institutions, digital banks, peer-to-peer (P2P) lending platforms, and local service providers aims to provide digital solutions for the nation’s micro, small, and medium enterprises (MSMEs). Additionally, it will offer digital financing facilitation to support their business operations.
Speaking at the business digitalisation initiative (BDI), minister of digital Gobind Singh Deo said that the BDI is a ‘rakyat’-centric transformative digitalisation initiative by the Madani government “to empower MSMEs with innovative technology solutions for their realisation of greater productivity and operational efficiencies.”
“This initiative is part of a ‘whole-of-nation’ approach to ensure MSMEs have access to digital solutions, financing opportunities, and expert guidance to enhance their competitiveness within today’s rapidly evolving digital economy. Through this BDI, the Madani government is accelerating MSME digital adoption while nurturing inclusive growth that enables businesses of all sizes to thrive in the years and decades ahead,” Gobind added.
Various memorandums of understanding between MDEC, SME Corp. Malaysia, financial institutions, digital banks, P2P lending platforms, and local service providers were formalised, all aimed at ensuring MSMEs receive comprehensive support across funding, digital tools, and capacity building to successfully transition into the digital economy.
MDEC CEO Anuar Fariz Fadzil (pic) said that the BDI aims to uplift MSMEs by building their resilience, enhancing competitiveness, and future-proofing their growth through meaningful digital adoption.
“This initiative is about tackling real business pain points — whether that be a lack of skills, tools, funding, or simply not knowing where to start — and providing targeted, practical solutions that are realistic and relevant to their operations and business aspirations,” Anuar added.
“Our approach includes tailored support, strategic partnerships, access to financing, and freemium and affordable e-invoicing solutions built on the Peppol framework, making digitalisation more accessible while encouraging MSMEs to scale locally and globally,” he said.
Meanwhile, SME Corp. Malaysia CEO Rizal bin Nainy stated: “The partnership between SME Corp. Malaysia and MDEC aims to enhance awareness of digitalisation among MSMEs through collaboratively designed digital transformation initiatives. Our role at SME Corp. Malaysia is to ensure that MSMEs are not left behind in the digital economy. By collaborating with MDEC, we are creating a more cohesive and targeted ecosystem that addresses the real barriers faced by MSMEs.”
As part of this effort, 21 MDEC-accredited e-invoicing service providers will offer freemium and affordable e-invoicing solutions for MSMEs. For more information on BDI, visit https://mdec.my/bdi.
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