The Malaysia Digital Economy Corporation (MDEC), under the purview of the Ministry of Digital, together with implementation partners announced the upcoming availability of a total cumulative fund of approximately RM1.5 billion to support business digitalisation initiative throughout 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 – would serve to provide digital solutions for the nation’s Micro, Small, and Medium Entreprises (MSMEs).
Additionally, it is also set to offer digital financing facilitation for this community’s business operation needs.
Speaking at the Business Digitalisation Initiative (BDI) held today, Minister of Digital YB 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,” added Gobind.
Various Memorandum of Understanding (MoU) collaborations between MDEC-SME Corp. Malaysia, financial institutions, digital banks, peer to peer (P2P) lending platforms and local service providers were formalised today – all aimed at ensuring that MSMEs receive comprehensive support across funding, digital tools and capacity building to successfully transition into the digital economy.
MDEC Chief Executive Officer Anuar Fariz Fadzil 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’ — may that be 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,” said Anuar.
“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.”
Meanwhile, SME Corp. Malaysia Chief Executive Officer Rizal bin Dato’ Nainy, stated, “The partnership between SME Corp. Malaysia and MDEC aims to enhance the 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 would be offering freemium and affordable e-invoicing solutions for MSMEs.
In attendance at the event included Secretary-General of Ministry of Digital Ybhg. Fabian Bigar, SME Corporation Malaysia Chief Executive Officer Rizal bin Dato’ Nainy, and various industry leaders.