KUALA LUMPUR - The Communications and Digital Ministry has called on the small and medium enterprises (SMEs) in the country to use local advertising platforms to market their products.
Its Minister Fahmi Fadzil said the move could help return the advertising revenues into the country's economic cycle.
"I hope that SMEs and other parties would consider using local platforms so that we can ensure that more advertising expenditure can be recycled within our country," he said when launching the OHSEM Digital Advertising Fund here today.
On Aug 1, Fahmi said the ministry would begin the engagement process with large platform providers such as Google, Meta, and TikTok to return advertising revenue to local media organisations.
He said the initiative was expected to help the media industry generate additional income.
Fahmi also expressed hope that more local platforms could be created.
For that purpose, he said the government is looking into several things to ensure that the local media advertising ecosystem is not only viable, but also truly sustainable.
"God willing, this win-win situation can be achieved with a new technology approach based on data and advertising or Artificial Intelligence (AI). I am confident that if all local platforms can work together in an integrated manner, this aspiration can be achieved," he said.
Meanwhile, Fahmi said the RM21 million OHSEM Digital Advertising Fund launched today was also among the initiatives to encourage SME entrepreneurs to advertise through local content platforms.
He said the initiative was expected to have an impact on the three corners of the economy, namely SMEs, local content platforms and the country's economy.
"The digital economy is a large part of the future and one of the main contributors to national income.
"With the economic growth of local SMEs through efforts like this, God willing, the desire to make Malaysia the 'Asian Digital Tiger' can be realised in line with the country's efforts in reaching the digital golden decade," he said.
The OHSEM Digital Advertising Fund is a collaboration between Dattel Asia Group (DTL), REV Media Group (REV) and Malaysia Digital Economy Corporation (MDEC).
Through the fund, SME entrepreneurs can now tap into advertisements worth RM8,000 for only RM1,000. More information can be found at www.ohsemads.com. - BERNAMA