In a major step towards empowering Malaysia’s micro, small, and medium enterprises (MSMEs), Grab Malaysia has signed a Memorandum of Understanding (MoU) with the Malaysia Digital Economy Corporation (MDEC). This collaboration is part of MDEC’s Business Digitalization Initiative, which aims to foster inclusive economic growth by accelerating technology adoption among local businesses.
A Commitment to Digital Transformation
As a homegrown platform, Grab Malaysia is dedicated to leveraging technology to create economic opportunities for businesses, not just in Malaysia but across the region. According to the company, more than 500,000 newly registered MSMEs in Southeast Asia gained access to consumers through its platform in 2023 alone.
A recent study by EconWorks revealed that Grab’s merchant-partners in Malaysia contributed RM4.2 billion to the nation’s GDP in 2023. To further support businesses, Grab offers the GrabMerchant app, which provides valuable insights into customer behavior and business performance, enabling entrepreneurs to make data-driven decisions to scale their operations.
Strengthening Malaysia’s Digital Economy
Adelene Foo, Managing Director of Grab Malaysia, emphasized the importance of digitalization in driving 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 represents another step forward in Grab’s continuous efforts to support local businesses. By working closely with MDEC and other like-minded partners, Grab aims to ensure that more Malaysians can benefit from the nation’s evolving digital economy.
A Brighter Future for MSMEs
With this strategic partnership, Malaysian MSMEs can expect enhanced access to digital tools, insights, and platforms that will help them expand their reach and drive sustainable growth. As digitalization becomes a key pillar of economic progress, collaborations like this one between Grab Malaysia and MDEC pave the way for a more inclusive and technologically advanced business landscape.
Stay tuned for more updates on how digital transformation is shaping the future of Malaysia’s MSMEs! 🚀