Affin inks MoUs to empower Sarawak businesses

KUCHING: Affin Bank Bhd has taken a momentous step by inking memorandum of understanding (MoUs) with three key industry players in Sarawak.

At the Affin Bizchat in Kuching programme here Thursday, the bank signed MoUs with Sarawak Digital Economy Corporation Berhad (SDEC); Bumiputera Entrepreneurs Council Sarawak (DUBS) Kuching Branch; and Chemsain Sustainability Sdn Bhd (Chemsain).

According to Women, Childhood and Community Well-being Development Minister Datuk Seri Fatimah Abdullah, these partnerships highlight Affin’s unwavering commitment to empowering businesses in Sarawak.

She added that by leveraging digital solutions, Affin would provide a comprehensive suite of services to meet both the financial and non-financial needs of small and midsized enterprises (SMEs), unlocking new opportunities, driving innovation, and fostering a vibrant business ecosystem.

She said this at the Affin Bizchat in Kuching at Sheraton Hotel here.

She stressed that as a bank, there is much that can be done to support and promote the innovation and productivity gains that exciting new technologies can bring.

“As mentioned by the Premier recently, Affin has the capability to support the growth of SMEs in Sarawak, especially those involved as vendors in the growing green economy.

“Moreover, the recent launch of the AFFINGEM Financing Scheme for women entrepreneurs is a testament to Affin’s dedication to inclusivity and empowerment.

“This initiative provides crucial financial support to women entrepreneurs in Sarawak, enabling them to leverage artificial intelligence (AI) and other advanced technologies to grow their businesses and contribute to the economic development of the state,” she said.

On the programme here, she pointed out that the theme of ‘Driving Sustainable Business with Artificial Intelligence’ is particularly timely and relevant.

Fatimah said the programme witnessed insightful discussions on how AI can revolutionise the way businesses operate, making them more sustainable and efficient.

“The knowledge shared on AI tools and strategies that can simplify work processes for SMEs is invaluable.

“These innovations not only enhance productivity but also pave the way for smarter decision-making and long-term sustainability,” she said.

She said the state which is known for its rich cultural heritage and biodiversity, has become an economic powerhouse with a gross domestic product (GDP) growth rate that has consistently outpaced the national average.

“The state is not only a leading exporter of palm oil and timber but also a burgeoning hub for digital innovation and technology. “With initiatives like the Sarawak Digital Economy Blueprint 2030, the state is well on its way to becoming a major digital economy powerhouse in the region, making the adoption of AI even more pertinent,” she said.