Through its digital transformation programme, Malaysia Digital Economy Corporation (MDEC) seeks to empower more businesses in the country to go digital
Penang Chief Minister Lim Guan Eng addresses the crowd of entrepreneurs at MDeC’s “Unleashing Business Opportunities” event in Penang.
Malaysia Digital Economy Corporation (MDEC) announced nine new Digital Transformation Lab (DTL) partners that it has invited to join its commitment to “empower more Malaysian businesses to go digital”.
The move also intends to establish the country’s position as the region’s tech and digital hub.
The nine new DTL partners are ABB Malaysia, Alpha Catalyst, Ernst & Young, Fusionex, Mawea Industries, Polymath, PwC Consulting Associates, Rockwell Automation, and Siemens. They will join the existing partners such as Bosch, Deloitte, Digital McKinsey, Rainmaking, and Roland Berger, bringing it to a total of 14 partners.
MDEC is a government agency under the Ministry of Communications and Multimedia Malaysia with a mission to lead the nation’s digital economy forward.
According to the World Economic Forum’s Digital Transformation of Industries report, companies that understand digital transformation earn 26 per cent more profit than others.
“Businesses in Malaysia must recognise the importance of digital transformation and the limitless benefits it can bring. Public-private partnership is an essential component in Malaysia’s digital transformation journey,” said Dato’ Ng Wan Peng, COO of MDEC.
To prepare itself in welcoming the Fourth Industrial Revolution, MDEC established DTAP in 2018 to equip Malaysian companies with the necessary tools to help kickstart their digital transformation journey.
The initiative was launched with objectives such as “future-proofing” Malaysian companies by helping them enhance their competitiveness, and providing a structured approach via DTL partners while adopting emerging digital technologies.
MDEC claims that DTAP is an outcome-driven programme. In this programme, the invited DTL partners help companies identify business pain points using specific methodologies. It helps them brainstorm on new ideas, design new business models, develop new products and/or services, to finally pilot the implementation plan.
To date, the DTL partners have conducted 23 workshops. The programme said has impacted more than 300 local companies in charting their digital transformation journey.
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Image Credit: MDEC
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