Digital Economy Must Ensure Fair Competition, Protect MSMEs – Anwar

PUTRAJAYA, 21 Okt (Bernama) -- Malaysia’s digital economy must be built on fair competition, including by addressing digital platforms’ practices that could burden micro, small and medium enterprises (MSMEs), Prime Minister Anwar Ibrahim said.

These practices include high commission charges, restrictive contractual terms and control over consumer data, which could put local businesses at a disadvantage, he said.

“Key areas of focus include strengthening digital infrastructure, reducing government ICT spending and reviewing the Malaysia Competition Commission’s (MyCC) findings on competition in the digital economy ecosystem,” he said in a post on X today.

Anwar was speaking after chairing the third 2026 meeting of the National Digital Economy and Fourth Industrial Revolution Council (MED4IRN), which reviewed the country’s digital economy progress and measures to strengthen Malaysia’s competitiveness amid technological advances.

He said the government wanted to ensure that the digital economy not only attracted investment and drove growth but also provided local businesses with fair opportunities.

The efforts also aimed to simplify daily transactions for the public and ensure that the benefits of digital economic development were shared more widely, he added.

Budget 2027 focuses on strengthening the resilience of MSMEs against global economic challenges by expanding access to financing, reducing costs and improving the efficiency of government service delivery, media reports said.

Entrepreneur and Cooperatives Development Minister Steven Sim Chee Keong was reported to have said that the commitment included providing RM57 billion in financing facilities for the sector, up from RM50 billion previously, marking the highest allocation of its kind on record.

-- BERNAMA