Categories: Economy and BusinessMoney and InvestmentTech

Borong Invest RM75 Million to Boost Sarawak’s Digital Economy and Support Local Businesses

[L-R] Datuk Ir Ts Sudarnoto bin Osman, CEO of Sarawak Digital Economy Corporation (SDEC); YB Datuk Sri Roland Sagah Wee Inn, Minister for Education, Innovation and Talent Development (MEITD), Sarawak; Professor Jugdutt Singh, Board Member of SDEC; Aizat Rahim, co-founder and Managing Director of Borong

Kuching, 17th October 2024 — Macro Tech Ventures Sdn Bhd (Borong), a B2B eCommerce solution provider and platform aggregator, has signed a Memorandum of Understanding (MOU) with Sarawak Digital Economy Corporation (SDEC), along with five other companies at the International Digital Economy Conference earlier today.

The MOU signing officiates Borong partnership with SDEC and their commitment to invest RM75 million to enable digitalization across Sarawak’s MSMEs, boosting its local businesses growth. Borong targets to transform over 60,000 MSMEs through providing digital tools and resources that bring their businesses from offline to online. Borong will also be assessing MSMEs digital readiness and conduct awareness, digital training, and onboarding activities together with SDEC. The goal is to prepare these local businesses to utilize Borong’s eCommerce and marketplace platform to increase their global reach and competitiveness.

Borong’s Investment

Once onboarded the Borong ecosystem, these MSMEs are qualified for Digital Niaga – an SME financing programme in collaboration with development banks such as BSN, Bank Rakyat, and Agrobank – to gain easy access to affordable financing that could go as low as 4% per annum. Up to date, Borong and its banking partners have allocated over RM300 million SME financing ready to be deployed and utilized. The Digital Niaga programme is aligned with the MADANI Economy aspirations to develop local MSMEs into regional champions and provide the necessary resources to drive their export potential, positioning Malaysia as the world’s top 30 largest economies.

According to SDEC CEO Datuk Ir. Ts. Sudarnoto Osman, “These MOUs represent a critical step in Sarawak’s journey toward becoming a digital economy powerhouse. These collaborations are about more than just technology—it’s about empowering the community through digitalisation. By integrating digital solutions, we are equipping our local businesses with the knowledge, support, and funding to thrive.”

Additionally, Aizat Rahim, co-founder of Borong acknowledges the public-private partnership between Borong and SDEC is a positive step forward to promote local entrepreneurship and developing enterprises towards the digital era in hopes to boost Sarawak’s economical growth. “We are committed to invest in Sarawak’s MSMEs to strengthen their footprint locally and grow internationally via cross-border digitalization.”

SDEC’s Chief Executive Officer, Datuk Ir. Ts. Sudarnoto Osman, and Borong’s co-founder, Aizat Rahim, completed the symbolic signing of this agreement at the 7th Edition of the International Digital Economy Conference Sarawak (IDECS), held at the Startup Village Stage, Borneo Convention Centre Kuching (BCCK).