Malaysia sets new benchmark for digital trust within the sharing economy

KUALA LUMPUR, 23 September 2025 – Globally, the sharing economy is expected to exceed USD 1.4 trillion by 2030, with Southeast Asia projected to contribute nearly 10 percent of that growth. In Malaysia, the digital economy is advancing rapidly, contributing 23.5% to the nation’s GDP in 2024 and on track to reach 25.5% by the end of 2025.

Central to this growth is the sharing economy, which has seen remarkable expansion with over 246 active platforms enabling more than 1.6 million gig workers in Malaysia to earn additional income through services such as e-hailing, home-sharing, and freelance task outsourcing. The cumulative sharing economy market size in Malaysia is estimated to reach RM18.8 billion between 2016 and 2025, underscoring its increasing significance in the nation’s digital landscape.
 

Challenges facing the sharing economy

Despite the sector’s dynamism, challenges persist. Incidents of data leakage, privacy breaches, scams, and fraudulent activities have raised concerns among users and regulators alike. The absence of a comprehensive platform assessment framework has resulted in inconsistent governance and security practices, contributing to gaps in consumer trust and exposing vulnerabilities in data protection. These issues threaten to stall the momentum of Malaysia’s sharing economy if left unaddressed.

As the enabler and architect of the nation's digital ecosystem strategy, the Malaysia Digital Economy Corporation (MDEC) recognised the pivotal need for a comprehensive assessment framework that would not only address these challenges but position Malaysia as the regional leader in sharing economy governance.
 

Introducing the National Sharing Economy Platform Assessment Framework

To address these challenges,  MDEC in collaboration with Deloitte, has developed the National Sharing Economy Platform Assessment Framework. This forward-looking initiative aims to elevate the maturity and digital trustworthiness of sharing economy platforms, fostering a secure, transparent, and inclusive ecosystem. The framework also aligns closely with the Malaysia Digital national strategic initiative and the broader MADANI economic aspirations, providing a structured approach to assessing and enhancing platform operations.

“Malaysia is well-positioned to lead in this space, but true leadership is earned through sound governance and public trust,” said Anuar Fariz Fadzil, the Chief Executive Officer of MDEC. “This platform assessment provides a clear, structured view of the ecosystem, enabling smarter policies and targeted interventions.”

“By delivering actionable insights, this initiative strengthens sharing economy platforms to enhance their operational capabilities, build lasting stakeholder confidence, and meet regulatory expectations. This sets the foundation for Malaysia to shape a more trusted and globally competitive digital economy.” added Anuar.
 

Framework assessment criteria – 7 key attributes

Pilot programme insights

In its pilot phase, the programme engaged a diverse range of sharing economy platforms, alongside emerging local startups. The pilot revealed a broad spectrum of maturity levels and trust scores. Branding and digital engagement emerged as the strongest area, with sixteen platforms scoring highly and eight achieving full marks. This highlights the growing emphasis on user communication and digital presence.

Conversely, cybersecurity was identified as a critical weakness; over half of the platforms demonstrated significant vulnerabilities with inadequate risk management measures. While many platforms showed solid business sustainability and value creation, there was noticeable inconsistency in governance and strategic alignment among those with lower maturity scores.

Importantly, the assessment found a positive correlation between operational maturity and trust, confirming that platforms with robust management practices garner higher stakeholder confidence. On-demand workforce platforms consistently outperformed others in both maturity and trust, reflecting effective user-provider interactions. Interestingly, 63% of platforms had trust scores exceeding their maturity levels, indicating that many have built strong reputations that precede full operational sophistication, while others need to leverage their internal strengths to build greater user trust.

Summary

Positive correlation between maturity and trust scores

Platforms with higher operational maturity consistently achieve higher trust scores, confirming that robust operations directly contribute to building stakeholder confidence and trust.

On-demand workforce platforms have consistently high maturity and trust scoresOn-demand workforce platforms demonstrate superior maturity and trust scores across sectors, highlighting how effective management of direct user and provider interactions drives success.
 

Higher trust score compared to maturity for 19 platforms

63% of platforms have trust scores exceeding their maturity scores (54% vs 52% average), showing many have built strong reputations ahead of their operational sophistication, while others need to translate operational strengths into greater user trust.

Supporting responsible growth

Dr Justin Ong, Regulatory & Financial Risk Leader at Deloitte Southeast Asia, emphasised the balanced approach of the initiative, “This programme is about enabling responsible growth, not restricting innovation. We worked closely with regulators, platforms, and policymakers to ensure the framework is both practical and progressive. It has been a privilege to support MDEC in shaping a framework that could truly transform how Malaysia manages its sharing economy platforms.”

“We are pleased to see that Deloitte’s initiatives and solutions continue to make an impact that matters for people, companies and Malaysia’s economy,” he added.

Looking ahead

The National Sharing Economy Platform Assessment, developed by MDEC in partnership with Deloitte, provides a comprehensive tool that empowers Malaysia's sharing economy platforms to make informed decisions and enhance competitiveness. Through MDEC's strategic leadership in digital ecosystem development, this framework strengthens the government's commitment to fostering responsible innovation while positioning Malaysia as the regional leader in building a sharing economy that is safe, scalable, and trusted. This initiative underscores MDEC's central role in driving the government's vision to transform Malaysia into a digitally-driven, high-income nation by 2023.