Malaysia's Budget 2025 Empowers SMEs for Global Digital Competition
Malaysia's Budget 2025 focuses on empowering small and medium-sized enterprises (SMEs) to compete globally in the digital age. SMEs, comprising 97% of Malaysian businesses and contributing nearly 40% to GDP, will benefit from incentives and digital transformation initiatives.
The national economic blueprint prioritizes digitalization, with key initiatives like MyDIGITAL and the Malaysia Digital Economy Blueprint. Digital leaders, including YB Senator Datuk Seri Amir Hamzah Azizan and YB Gobind Singh Deo, drive policies supporting scalable digital frameworks for SME growth. Prime Minister Datuk Seri Anwar Ibrahim leads high-level coordination, promoting sovereign iCloud and AI-driven development.
Malaysia's core industries are shifting from legacy systems to agile, cloud-based environments. Data-driven agriculture, using iCloud platforms, IoT sensors, and drones, is gaining momentum. No-code and low-code platforms enable SMEs to build tailored applications, regardless of IT expertise. This shift coincides with a 7.2% growth in the agriculture sector in Q2 2024.
Despite challenges like the digital skills gap affecting nearly 40% of Malaysian SMEs, the government's commitment to digital transformation and empowerment of SMEs is clear. With targeted incentives and supportive policies, Malaysia aims to cultivate a culture of innovation and drive sustainable growth across its diverse business landscape.
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