SHAH ALAM, July 7 — The government will provide digitalisation grants of up to RM5,000 to help small and medium enterprises (SMEs) adopt digital technologies and artificial intelligence (AI), said Prime Minister Datuk Seri Anwar Ibrahim.
The initiative is intended to accelerate digital transformation among SMEs, particularly smaller businesses.
"To encourage SMEs to embrace digitalisation and the use of AI, the government will provide digitalisation grants of up to RM5,000," he said during the Prime Minister's Question Time in the Dewan Rakyat today.
Anwar was responding to questions on government efforts to help businesses cope with economic pressures resulting from the West Asia conflict.
He also expressed support for expanding financing opportunities for young entrepreneurs following a proposal to establish a youth-focused financing scheme similar to Amanah Ikhtiar Malaysia (AIM).
"AIM is not exclusively for women, although around 98 to 99 per cent of its borrowers are women due to their stronger repayment record. I agree that we should increase financing opportunities for men who need assistance.
"I will ask AIM to give special attention to young borrowers, with smaller and more manageable financing facilities,” Anwar said.
The Prime Minister added that banks should also continue providing responsible lending without resorting to overly harsh measures against businesses facing genuine financial difficulties.
"There is little point in allocating substantial funds if businesses still find it difficult to obtain financing,” he said.
To further support SMEs, loan approval timelines have been shortened.
Anwar noted that applications under the National Entrepreneurial Group Economic Fund (TEKUN Nasional) are processed in about five days, Bank Rakyat’s micro SME financing in six working days, and SME Bank loans ranging from RM100,000 to RM1 million are approved in 15 working days.
