LOCAL FIRMS URGED TO LEVERAGE FINTECH
Technology can be catalyst for growth, says minister
FINANCIAL technology (fintech) should be looked at as a catalyst to economic growth, says Communications and Multimedia Minister Datuk Seri Salleh Said Keruak.
He said local companies, especially small and medium enterprises (SMEs), should use fintech to drive their businesses to the next level.
“SME is the backbone of Malaysia’s economic growth, given that some 97 per cent of the commerce landscape is represented by SMEs,” said Salleh.
“In fact, the government has developed a master plan for the SMEs to push for greater growth through innovation and fintech. Facilities like e-payments, cashless transactions and QR payments are all designed to help them,” he said at Malaysia FinTech Expo 2018, here, yesterday.
Also present were Malaysian Communications and Multimedia Commission chairman Tan Sri Dr Halim Shafie, Persatuan Usahawan Dinamik (PUD) president Datuk Rosthman Ibrahim and New Straits Times Press (M) Bhd (NSTP) group chief executive officer Datuk Seri Abdul Jalil Abdul Hamid.
The two-day expo was organised by PUD, where NSTP and Berita Harian are the official media partners.
Salleh said the good relationship that Malaysia had with Asean countries and those beyond the region was also beneficial to SMEs as they looked beyond borders to expand their businesses.
“With the growth of the Fourth Industrial Revolution, digital economy should be used as a collective advantage,” he said.