Empowering SMEs: MDEC drives digital growth in Penang

The Malaysia Digital Economy Corporation (MDEC) is ramping up efforts to empower small and medium enterprises (SMEs) with digital transformation tools, starting in Penang.

This initiative, launched under the Ministry of Digital, aims to enhance SME competitiveness and resilience in a fast-evolving global market.

“Technology is no longer optional—it’s the key to growth,” said MDEC CEO Anuar Fariz Fadzil during the programme’s launch in George Town.

Driving SME growth with digitalisation

MDEC’s initiative includes a robust engagement programme tailored to address the unique challenges SMEs face in digital adoption.

Held at the Ministry of Digital’s newly opened Zon Utara Office, the programme brings together Penang’s SME associations, industry leaders, and government officials.

The focus is on co-developing actionable solutions to foster a supportive ecosystem for SMEs. Discussions cover best practices, industry insights, and strategies to accelerate digital adoption and innovation.

“This programme reflects our commitment to building a thriving digital economy that benefits all Malaysians,” Anuar said.

To date, RM30.96 million has been disbursed to Malaysia Digital (MD) grant recipients in Penang, with 173 companies achieving MD status.

These grants, coupled with tax incentives and funding opportunities, provide SMEs with vital resources to grow in the digital economy.

MDEC unveiling customised digital solutions

MDEC is set to introduce new initiatives aimed at reducing SME operational costs by up to 20% through customised digital solutions.

These initiatives will target specific pain points, offering tools that align with SMEs’ business goals and industry needs.

“SMEs should view technology as an investment that enhances efficiency and future-proofs their businesses,” Anuar emphasised.

MD status, a key component of MDEC’s programme, supports businesses engaged in digital activities with benefits like business matching, networking opportunities, and funding access.

MDEC encourages more companies to apply for this status, positioning themselves for innovation and global competitiveness.

The event drew prominent figures, including Penang Deputy Chief Minister II Jagdeep Singh Deo and Digital Penang CEO Ts. Kwang Ming Ng.

Stakeholders collectively expressed optimism about the programme’s potential to transform Penang’s SME landscape.

For local businesses, the Zon Utara Office serves as a direct resource hub. It offers SMEs access to valuable support and guidance, ensuring they are equipped to embrace digitalisation fully.

For more information, visit mdec.my or contact [email protected]. Penang-based SMEs can also visit the Zon Utara Office at Bangunan U.A.B., George Town, for assistance.