Integrated Business Digitalisation Initiative for MSMEs: A Game Changer for Malaysia’s Economy
Driving Digitalisation of the Entire Business Chain
The Integrated Business Digitalisation Initiative for micro, small and medium enterprises (MSME) is a significant step towards driving the digitalisation of the entire business chain, according to Malaysia Digital Economy Corporation (MDEC). This initiative is designed to empower MSMEs to increase productivity and reduce business operating costs by 20 per cent by 2030.
A Game Changer for MSMEs
The Integrated Business Digitalisation Initiative encompasses vital components such as integrating business ID and evaluating the digital maturity aimed at matching suitable digital solutions with current needs and to propel the level of digital maturity among local businesses. This initiative is a game changer that will transform the way MSMEs operate, making them more competitive and innovative in the global market.
Government’s Commitment to Digital Transformation
The initiative is part of the government’s commitment to speed up digital transformation among MSMEs. The goal is to have 1.26 million businesses achieve maturity level through comprehensive digital technology and 292,000 businesses achieve comprehensive digitalisation maturity by 2030.
MDEC’s Role in the Initiative
MDEC chief executive officer Anuar Fadzil shared that the initiative, approved by the National Digital Economic Council on December 4, is expected to encourage at least 80 per cent of MSMEs to use digital technology in a more comprehensive manner. Through strategic collaborations with agencies such as SME Corp, this initiative has been planned carefully to ensure effective coordination from planning to implementation. This will speed up the business digitalisation transformation agenda and make our national economy more competitive and innovative, he said.
Benefits of the Initiative
The Integrated Business Digitalisation Initiative will bring numerous benefits to MSMEs, including increased productivity, reduced business operating costs, and improved competitiveness in the global market. The initiative will also create new job opportunities and stimulate economic growth.
Conclusion
The Integrated Business Digitalisation Initiative is a significant step towards driving digitalisation among MSMEs in Malaysia. The initiative is expected to bring numerous benefits to MSMEs, including increased productivity, reduced business operating costs, and improved competitiveness in the global market. With the support of government agencies and strategic collaborations, this initiative is poised to transform the way MSMEs operate and make the national economy more competitive and innovative.
Frequently Asked Questions
Q: What is the goal of the Integrated Business Digitalisation Initiative?
A: The goal of the initiative is to empower MSMEs to increase productivity and reduce business operating costs by 20 per cent by 2030.
Q: What are the key components of the initiative?
A: The key components of the initiative include integrating business ID and evaluating the digital maturity aimed at matching suitable digital solutions with current needs.
Q: What is the expected impact of the initiative?
A: The initiative is expected to encourage at least 80 per cent of MSMEs to use digital technology in a more comprehensive manner, making them more competitive and innovative in the global market.
Q: What is the role of MDEC in the initiative?
A: MDEC is playing a key role in the initiative, working closely with government agencies and other stakeholders to ensure effective coordination and implementation of the initiative.