GRAB MALAYSIA, MDEC INK MOU TO BOOST MSME DIGITALISATION

KUALA LUMPUR, March 26 (Bernama) -- Grab Malaysia has signed a memorandum of understanding (MoU) with the Malaysia Digital Economy Corporation (MDEC) to support the digitalisation of micro, small and medium enterprises (MSMEs) under MDEC’s Business Digitalisation Initiative.

Grab said in a statement that it is committed to leveraging technology to drive economic empowerment and inclusive growth for businesses, not only in Malaysia but also across Southeast Asia.

“In 2023 alone, more than 500,000 newly registered MSMEs across Southeast Asia gained access to consumers through the Grab platform.

“In Malaysia, based on a recent study by EconWorks, merchant-partners on the platform contributed RM4.2 billion to the country’s GDP in 2023,” it said.

Grab added that the GrabMerchant app, which provides data-driven insights for businesses, is among the tools available to support MSME growth.

Managing director Adelene Foo said the collaboration with MDEC will help expand support for more MSMEs in Malaysia and enhance their participation 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,” she said. 

Meanwhile, digital bank GX Bank Bhd (GXBank) has also signed an MoU with MDEC to drive digital transformation of MSMEs in Malaysia, it said in a separate statement.

GXBank chief of staff Hildah Hamzah said that by bridging these gaps, the bank empowers MSMEs with the right access, opportunities and support they need to thrive, scale and contribute meaningfully to the nation’s economy.

“We are currently piloting with Grab merchants with encouraging results, and are excited to introduce them to the MSME sector in the coming months.

“Through this MoU, we look forward to working with MDEC and other like-minded industry partners to ensure continuous support and initiatives for MSMEs, fostering a more inclusive financing ecosystem where they can flourish in this modern economy,” she said.

-- BERNAMA