Malaysia helps SMEs switch to digital economy

KUALA LUMPUR (BERNAMA) – The Strategic Programme for Empowering the People and the Economy (PEMERKASA) initiative announced by the government, among others, will help small and medium enterprises (SMEs) switch to the latest technologies such as automation, robotics and the use of the digital economy.

Senior Minister and Minister of International Trade and Industry Mohamed Azmin Ali said that during the pandemic, the use of digital economy had moved faster and saw an increase in e-commerce.

“We see the increase in e-commerce multiplied, giving SMEs the opportunity to penetrate new markets outside Malaysia.

“The Malaysian market is too small, we only have 32 million people, but if we can use digital technology we can penetrate the ASEAN market where the population reaches 650 million people,” he told reporters after the COVID-19 Special Contribution Handover Ceremony for schools in the Gombak Parliamentary Constituency, donated by Texas Instruments Malaysia Sdn Bhd here yesterday.

Last Wednesday, Prime Minister Muhyiddin Yassin launched PEMERKASA worth MYR20 billion as well as a new fiscal injection of MYR11 billion as part of efforts to continue to support the country’s economic recovery process.

PEMERKASA has five key focusses that will focus on 20 strategic initiatives to boost economic growth, support business and continue targetted assistance to the people and sectors that are still affected by the pandemic. Commenting further, Mohamed Azmin said the Regional Comprehensive Economic Partnership (RCEP) agreement signed earlier was also among the government’s initiatives to elevate local players to the international stage.

“RCEP can penetrate 15 countries covering a market of 2.2 billion people worldwide… These are all government initiatives to elevate local players to the international stage and compete to increase productivity and quality of their products.

Insyaallah with this effort, we will be able to see local players penetrate new markets at the international level… this is a new approach, and if it is not given attention, we are worried we will be left behind,” he said.