PENANG (MALAYSIA), January 13 2025 – The Malaysia Digital Economy Corporation (MDEC), under the Ministry of Digital, has launched a nationwide initiative to accelerate digital transformation for small and medium enterprises (SMEs), beginning with Penang. The programme, unveiled by Minister of Digital YB Gobind Singh Deo, aims to equip SMEs with tools, knowledge, and support to thrive in the digital economy.
Held at the newly inaugurated Ministry of Digital’s Zon Utara Office in George Town, the engagement programme addressed industry-specific challenges faced by Penang-based SMEs in adopting digital solutions. The initiative seeks to foster a collaborative ecosystem by facilitating dialogue, sharing best practices, and nurturing partnerships to accelerate digital adoption and innovation.
MDEC CEO Anuar Fariz Fadzil urged SMEs to view technology as an essential investment for growth and competitiveness, stating, “Technology is a necessity in today’s rapidly evolving landscape. By adopting digital tools and innovative solutions, SMEs can enhance their efficiency, reach, and resilience in the global market while achieving greater productivity.”
Anuar highlighted MDEC’s commitment to providing practical solutions to support SMEs’ digital transition. The initiative aligns with the government’s broader efforts to build a dynamic digital economy that benefits businesses and communities nationwide.
To date, RM30.96 million has been awarded to Malaysia Digital (MD) grant recipients in Penang, with 173 companies already achieving MD status. Companies with this status gain access to tax incentives, grants, business matching, and extensive networks.
Looking ahead, a new initiative will soon be introduced to help SMEs reduce operational costs by up to 20% through tailored digital solutions addressing their unique business needs. “We aim to understand SMEs’ pain points and provide solutions aligned with their operational goals and industry demands,” added Anuar.
The event was attended by Deputy Chief Minister of Penang II YB Jagdeep Singh Deo A/L Karpal Singh, CEO of Digital Penang YBrs Ts. Kwang Ming Ng, and industry leaders from Penang SME associations.
MDEC’s strategic mission reflects a clear commitment to fostering innovation, competitiveness, and growth in Malaysia’s SME sector.