Ewon urges entrepreneurs to go digital to expand market access, boost economic growth

15 June 2023

By Wartawan Nabalu News

KUALA LUMPUR: Minister of Entrepreneur Development and Cooperative, Datuk Ewon Benedick, has encouraged entrepreneurs and cooperatives to sell their products and services on digital platforms in order to expand their market access and boost the economic growth of the nation.

He made this remark at the Grand Launching of Platinum Business Award 2023, organised by SME Association of Malaysia (SME Malaysia) at MITEC Kuala Lumpur on Thursday.

The Platinum Business Award, which has been recognising and celebrating the achievement of Malaysia’s local entrepreneurs since 2002, is an initiative that complements and supports the government’s effort to create a strong entrepreneurship ecosystem in Malaysia, according to the minister.

“I really applaud initiatives like Platinum Award in complementing and supporting the government’s effort to create a strong entrepreneurship ecosystem in Malaysia. I hope SME Malaysia will continue appreciating and encouraging entrepreneurs to bloom and attain their fullest potential,” he said.

He explained that entrepreneurship is important for the continued dynamism of modern economies and for job creation.

“Hence, the ministry is consistently monitoring the progress of entrepreneurs and cooperatives in Malaysia. For the year 2023, KUSKOP’s Strategic Plan has outlined 24 strategies and 185 programs nationwide that would benefit more than 500,000 micro, small and medium enterprises (MSMEs) in Malaysia.

“However, KUSKOP would not be able to reach out to all entrepreneurs without the assistance of other government agencies, NGOs and associations such as SME Malaysia,” he added.

Ewon also cited the World Bank’s projection that Malaysia’s economic growth is expected to expand by 4.0 percent in 2023, amid an expected slowdown in external demand.

He said that the reopening of international borders in 2022 has led to positive changes in sales for firms of all sizes and across all sectors.

However, he also cautioned that Covid19 has proven that business should no longer be carried out as usual, and that digitalisation is the key to expedite the expansion of economic growth.

“I firmly believe we would be able to expedite the expansion of our economic growth through digitalisation. Therefore, I encourage entrepreneurs and cooperatives to sell their products and services on digital platforms in order to give them a wider market access,” he said.

He also introduced a free digital entrepreneurship ecosystem development platform called MyMall, developed by his ministry, to facilitate the expansion of local MSMEs to digital platforms.

“I urge all of you to explore this platform and together we could help our entrepreneurs to explore new markets through digitalization,” he said.

He also expressed his hope that in the future, the Platinum Award could also recognise the contribution of social enterprises and vulnerable groups in the entrepreneurship ecosystem.

“A strong entrepreneurship ecosystem will definitely promote innovation and contribute towards the economic development of the nation,” he concluded.