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PUTRAJAYA: The digital economy, designated as one of the main pillars of the Shared Prosperity 2030 vision, will receive special attention to spearhead the country’s post-Covid-19 resurgence, says Tan Sri Muhyiddin Yassin.
One of the areas that will be emphasized is the development of small and medium-sized enterprises (SMEs), especially those that are testing e-commerce.
“In dealing with the economic impact of the Covid-19 pandemic, the government has taken an inclusive approach to ensure the economic survival of the people.
“This digitization process will intensify and focus on the development of the digital economy to boost the economic growth of the country after Covid-19,” said the Prime Minister in his speech at the launch of the MalaysiaBiz portal.
“SMEs contributed 38.9% of gross domestic product (GDP) in 2019 and the government wants the percentage to reach 50% by 2030.
“Measures to boost the growth of our SMEs will continue to be prioritized. This is especially focused on current online shopping trends, which is a potential for SMEs to grow rapidly.
“We want to simplify the digitization process among merchants,” he said.
The government is targeting 40% digitization of end-to-end (E2E) service delivery by the end of 2020, compared to 20.2% in 2019.
Muhyiddin said the government’s commitment to boosting SMEs is reflected in its many initiatives, including those introduced in previous economic stimulus packages.
He said the recently unveiled Budget 2021 also places business continuity as one of the top three goals.
“Special attention has been paid to SMEs through financial aid, training, digital equipment and subsidies.
“The government has also allocated RM1bil to drive digitization activities until December 31, 2023.
“A sum of RM150 thousand has been set aside to organize sales training programs and to acquire digital equipment for 100,000 local entrepreneurs within the framework of the SME and Micro SME e-commerce campaigns.
“Additionally, a total of RM4.6 billion has been allocated to empower women entrepreneurs and bumiputra,” Muhyiddin said.
Held virtually, the launch of the MalaysiaBiz portal was broadcast yesterday on the Facebook page of the Malaysia Administrative Planning and Administrative Modernization Unit.
The portal will serve as a “one-stop shop” facilitating online business registration as well as license applications.
“The objective of the MalaysiaBiz portal is to create a favorable environment for trade, which in turn would foster competitiveness and also stimulate the growth of the national economy,” Muhyiddin said.
The Prime Minister called on more Malaysians to take advantage of the MalaysiaBiz initiative by starting new businesses.
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