SALUTATION
1. Mr Kevin Loh
Interim Group Chief Executive Officer, CTOS Digital Berhad
2. Yang Berusaha Tuan MA Sivanesan
Deputy Secretary General, Ministry of Digital
3. Yang Berusaha Encik Anuar Fariz Fadzil
Chief Executive Officer, MDEC
4. Yang Berusaha Encik Rizal Dato’ Nainy
Chief Executive Officer, SME Corp Malaysia
5. Yang Berusaha Encik Mansor Shah Wahid Deputy
Chief Executive Officer (Exporters Development), MATRADE
Fellow Industry Partners & Entrepreneurs,
Members of the Media,
Ladies and Gentlemen.
Salam Sejahtera dan Salam Malaysia MADANI, and a very good morning to all of you.
1. It is an honour to be at this year’s CTOS SME Biz Day. I am surrounded by a dynamic and inspiring group of individuals who are driving the future of Malaysian businesses.
2. I would like to extend my sincere appreciation to CTOS for creating this platform. I am confident we will see SME owners come together, share knowledge, and explore growth opportunities at this event.
Ladies and Gentlemen,
3. Today, we find ourselves in a dynamic and competitive market that presents opportunities, and challenges. For businesses in Malaysia to rise to the occasion, digitalisation is key.
4. In this context, Malaysia has made significant strides. The country’s digital agenda has spurred our global rankings. We are now 33rd in the 2024 Global Innovation Index (GII) and 36th in the 2024 IMD World Digital Competitiveness Ranking (WDCR).
5. However, it is widely acknowledged that SMEs still lag behind larger enterprises when it comes to their digitalisation journey. And they have valid reasons. Cost is one of them. Manpower is another. So how can we then ensure that Malaysian SMEs are not left behind in our digital race?
6. The Ministry of Digital, and its agencies, have several initiatives to help SMEs adopt digital technology. There’s the Business Digitalisation Initiative by the MDEC. The MADANI Government has also set aside RM50 million for digital matching grants for SMEs, and digital grants for vendors. Global technology companies based in Malaysia, such as Microsoft and Alibaba Cloud, are working closely with the government to assist SMEs via multiple programmes.
7. Our vision is to create a digitally-empowered Malaysia - where every business, regardless of size, can thrive in our national digital ecosystem. We are committed to fostering an environment that supports innovation, digital adoption, and ultimately, building up Malaysia as a strong digital nation.
8. Our initiatives have always been designed to provide SMEs with the resources, knowledge, and support they need to navigate the digital landscape effectively. And this ties in perfectly to what CTOS is doing today.
9. With that, I would like to share several key areas that SMEs should focus on when it comes to digital adoption.
a. Firstly, it is crucial for SMEs to grasp the importance of digital marketing and e-commerce in today’s day and age. To effectively reach their target markets, businesses should utilise the very many online platforms available. We can all learn from Datuk Wira Ameer and his team at MYDIN. They have elevated their business by introducing the MYDINPay 4 e-wallet, launched an e-commerce platform, and continue to be active on social media.
b. Secondly, while digitalisation offers numerous benefits, it also presents challenges. That is why cybersecurity must be made a priority. SMEs must protect its data to maintain customer trust, and to safeguard their operations. CyberSecurity Malaysia, an agency under the Ministry of Digital has rolled out the Cyber Security Academy, playing an important role in enhancing our nation’s cyber resilience in addressing the shortage in the cyber security field, by offering technical and vocational education and training courses.
c. Thirdly, business decisions should be data-driven. SMEs should harness the power of data analytics to gain valuable insights into customer behaviour, market trends, and operational efficiency. By leveraging data, businesses can optimise processes, enhance decision-making, and ultimately drive growth. This is in line with MDEC’s Data Driven Enterprise Programme. It allows businesses to make informed decisions, creating value from data, and to be ready for the digital future.
d. Last but not least, Artificial Intelligence (AI) offers SMEs a unique opportunity to streamline and automate their processes. AI can assist in various aspects - from customer service to inventory management. This enables SMEs to stay competitive in a rapidly evolving market.
10. It is also aligned with the launch of the National AI Office (NAIO) last year, as we aim to drive progress through applied AI at all levels.
Ladies and Gentlemen,
11. I would like to urge all of you to be part of the nation’s digitalisation process. The use of digital technology, especially those revolving around AI and data, will benefit your business in many ways - increasing productivity, and creating prosperity.
12. Together, let’s build a future where Malaysian SMEs are not only competitive, but also leaders in the global digital field. But before we aim for the skies, let’s get the basics right – by ensuring we are all aligned with the nation’s digital aspiration.
13. Thank you once again to CTOS for hosting this event, and to all of you for being here today. Let us embrace the opportunities that lie ahead and work towards a brighter, digitally empowered future.
Thank you.
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