KUALA LUMPUR, 28 March 2025 — Industry leaders have voiced strong support for the Business Digitalisation Initiative (BDI) praising it as a transformative step in accelerating micro, small, and medium enterprises (MSME) digital adoption. They recognise its role in providing businesses with essential tools, funding access, and expert guidance to drive growth and competitiveness in the digital economy.

 

The BDI is supported by a cumulative funding pool of approximately RM1.5 billion, facilitated through strategic public-private partnerships with financial institutions, digital banks, peer to peer (P2P) lending platforms, and local service providers to drive digital transformation for MSMEs across Malaysia.

 

Minister of Digital, YB Gobind Singh Deo said: "This BDI initiative is a business centric transformative digitalisation initiative by the Madani Government to empower MSMEs with innovative technology solutions for their realisation of greater productivity and operational efficiencies."

 

As part of this effort, the initiative also offers affordable and freemium e-invoicing tools based on the Peppol framework, supported by 21 Malaysia Digital Economy Corporation (MDEC) accredited service providers. These tools streamline financial processes, improve compliance, and enhance efficiency for MSMEs.

 

MDEC Chief Executive Officer Anuar Fariz Fadzil commented: "The BDI is about ‘uplifting’ MSMEs by building their resilience, enhancing competitiveness, and future-proofing their growth. We aim to tackle real business ‘pain points’— whether it’s a lack of skills, tools, funding or even knowing where to begin — and offer solutions that are targeted, practical and relevant to their business aspirations.”

 

“This includes tailored support, strategic partnerships, access to financing and freemium e-invoicing tools, ensuring digitalisation is both accessible and impactful for MSMEs throughout our beloved nation,” concluded Anuar.

 

Industry endorsements

CTOS Data Systems Chief Operating Officer Lee Shin Mei, welcomed the initiative and commended the government’s commitment to MSME digitalisation, highlighting the importance of uniting key industry players to provide meaningful support.

 

Meanwhile, BigLedger Chief Executive Officer Vincent Lee underscored the transformative potential of Peppol-based e-invoicing, noting that it serves as a gateway for MSMEs to integrate into regional and global supply chains while improving financial efficiency.

 

Managing Director of Grab Malaysia Adelene Foo recognised the government’s holistic approach to MSME digitalisation and affirmed Grab’s commitment to using technology to drive economic empowerment and inclusive growth in Malaysia and the region.

 

Chief of Staff for GXBank Malaysia, Hildah Hamzah, underscored the bank’s commitment to financial inclusion, stating that by leveraging digital banking solutions, they aim to simplify MSME access to financing and drive their growth in the digital economy.

 

In addition, PIKOM Chairman Alex Liew commended the BDI as a transformative initiative that unites key stakeholders to drive MSME digitalisation, emphasising strong leadership and collaboration in creating an ecosystem that enables businesses to scale and compete.

 

Several Memorandum of Understanding (MoUs) were signed between MDEC, SME Corp Malaysia, and various industry partners, reinforcing the collaborative effort to support MSMEs in their digital transformation journeys. Through these partnerships, MDEC continues to champion the digitalisation agenda by fostering a collaborative ecosystem that connects businesses with the right digital solutions, expertise, and funding opportunities.

 

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Issued by:

Corporate Communications Division

Malaysia Digital Economy Corporation (MDEC)

 

APPENDIX: INDUSTRY LEADER QUOTES

 

CTOS Data Systems Chief Operating Officer Lee Shin Mei:

“It is certainly a mammoth effort by KD and MDEC, with support from SME Corporation Malaysia, to break new ground for the MSME community. Pulling together key industry players within the spheres of tech and financial services is no easy task – and credit to KD, MDEC and SME Corp for uniting the ecosystem to deliver meaningful, actionable support for our nation’s entrepreneurs. The cornerstone of the Malaysian economy.” She added: “Our expertise in digital credit decisioning and data analytics benefits the MSME community by enabling more informed, efficient and accessible financial services.”

 

BigLedger Chief Executive Officer Vincent Lee:

“Peppol goes beyond being just a compliance tool to serve as a ‘key gateway’ for MSMEs to enter regional and global supply chains. By integrating our data lake capabilities with Peppol, we help businesses automate workflows, ensure real-time financial visibility and reduce operational bottlenecks.”

 

Grab Malaysia Managing Director Adelene Foo:

“Digitalisation has long been a key driver of business growth. At Grab, we have been committed to empowering MSMEs with the right tools, insights, and financial solutions to scale sustainably. Through this collaboration with MDEC, we look forward to further strengthening these efforts and reaching even more MSMEs across Malaysia, helping them grow and thrive in the digital economy. The MoU marks another step forward in Grab’s ongoing efforts to support local businesses, and we look forward to working closely with MDEC and other like-minded partners to contribute to the nation’s development and ensuring that more Malaysians can benefit from the digital economy.”

 

GXBank Malaysia Chief of Staff Hildah Hamzah:

“We are thrilled to sign the MoU with MDEC to drive the digital transformation of MSMEs. As one of Malaysia’s three operational digital banks, we have onboarded over one million Malaysians. MSMEs represent the next key demographic for us. Historically, MSMEs have been sidelined by rigid credit assessments and cumbersome procedures. Our goal is to bridge this gap with accessible, tech-driven financial solutions.”

 

PIKOM Chairman Alex Liew:

“It is a remarkable undertaking by KD, MDEC and SME Corp. Uniting key stakeholders from across the tech and financial services landscape under a common vision requires strong leadership and coordination. Full credit to all parties for creating an ecosystem that delivers practical, results-driven support to our nation’s entrepreneurs. PIKOM fully support the initiative,”

 

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