By Selangor Journal Team
KUALA LUMPUR, May 28 — Malaysian entrepreneurs are well positioned to compete in the global marketplace but face a visibility challenge which hampers their ability to showcase their full potential, says Selangor Information Technology and Digital Economy Corporation (Sidec) chief executive officer Yong Kai Ping.
Although many Malaysian entrepreneurs have achieved significant sales success, to enhance their marketability they need to prioritise the digitalisation of their businesses.
“While Malaysian businesses are capable of competing globally, their lack of visibility hinders progress. By embracing digitalisation and digital solutions, they can effectively scale their businesses.
“They can also benefit greatly from the innovative digital ecosystem, including the use of AI, which can address weaknesses and make their jobs easier,” he told Selangor Journal during the Top E-commerce and Merchant Awards (ECM) 2023, held at the Hilton Kuala Lumpur, here yesterday.
Yong further emphasised the need for Malaysian businesses to be more aggressive in promoting themselves regionally, particularly compared to neighbouring countries like Indonesia and Thailand.
“We have beautiful beaches, delicious food, and exciting activities here but they are not as well-known as destinations like Bali, Indonesia, or Thailand,” he said.
The Top ECM Awards was established to recognise successful local e-commerce businesses. This year, the top award was given to ETransact Technology Sdn Bhd, a company specialising in the digital online sales of bus tickets.
Yong added that Sidec’s mission is to connect local businesses with potential solutions, opportunities and ventures. Recently, it participated in the Pitch Malaysia USA Series 2023, a programme which assisted 11 promising Malaysian technology startups in investment and pitching events at key locations in the United States, including Washington DC and Silicon Valley in California.
Describing the awards and pitching event as a two-step approach to elevate local businesses to the international market, he referred to it as the ‘heaven and earth’ approach.
“Apart from providing guidance, we will help startups raise funds abroad. The idea is to help them establish a base and ultimately propel them forward,” Yong said.
The recent US pitch series involved companies like Asia Mobility Technologies, iMotorbike, ALPS Global Holding, Virtualtech Frontier, Boxcube, Entomal, Revenue Monster Group, QMed, Accendo Technologies, Kiddocare, and Pod, among others.
