MEDC’s initiatives on digitising SMEs

14 November 2023

By AVV

KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives has implemented several initiatives that focus on digitizing Micro, Small, and Medium Enterprises (MSMEs), Its Minister Datuk Ewon Benedick, who is the Penampang Member of Parliament said.

Replying to Dato’ Ramanan Ramakrishnan Sungai Buloh MP, who requested the Minister to clarify the Ministry's plans regarding the development and enhancement of digital entrepreneurs programmes, he said, the development of the MyMall Platform, which provides free online marketing space for products or services offered by MSMEs, have 1,277 registered businesses on the platform, generating sales of RM2.77 million.

“Introduction of the Online Financing Scheme TEKUN (SPOT) by TEKUN Nasional, aimed at providing financing to entrepreneurs conducting online businesses. So far, 779 entrepreneurs have benefited from this scheme, with financing totaling RM5.9 million,” he said adding that there is also the introduction of the SME Technology Transformation Fund (STTF) through SME Bank, providing financing to MSMEs to enhance digital adoption in their business operations. To date, 261 companies have received financing amounting to RM301.15 million through this scheme.

Other development includes the implementation of the Small Traders and Small Business Enhancement Programme, aimed at providing exposure and knowledge on digitalization to small traders. Eight programme series have been conducted, involving 1,728 participants from small traders and businesses.

“There is also the implementation of the Cooperative Technology Transformation and Digitalization Program, aimed at exposing cooperatives to the use of technology and digitalization in their management and activities. Three programme series, in collaboration with the Cooperative Commission of Malaysia (SKM), have been conducted, involving 104 participants from various cooperatives,” he elaborated.

“Implementation of the Cooperative Digital Empowerment Programme (C.O.D.E.) through the Malaysian Cooperative Institute, aimed at encouraging cooperatives to utilize digital marketing. So far, 30 programmes have been conducted, involving 2,093 participants from various cooperatives.”