Borong Invest Millions to Boost Sarawak’s Digital Economy and Support Local Businesses
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.
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 Dato 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, Dato 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).
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About SDEC: Sarawak Digital Economy Corporation Berhad (“SDEC”) was incorporated on 22nd January 2018, and operationalised in July 2020, as a company wholly-owned by the Sarawak Government through State Financial Secretary Inc. under the Ministry of Finance and Economic Planning. Its vision is to accelerate economic prosperity for all people through digitalisation.
About Borong: Borong is a B2B eCommerce solution provider and Southeast Asia’s fastest growing wholesale marketplace that facilitates over 100,000 businesses trade and procurement locally and regionally. Our mission is to support SMEs growth by providing easy access to the right products, prices, and partners for their business. Borong offers digital tools, market access, and financing support for SMEs to scale and compete in today’s world successfully.
For more info: https://www.borong.com/my
For further inquiries, please contact: contact@borong.com