En­cour­ag­ing dig­i­tal ecosys­tem in M’sia

The Star Malaysia - StarBiz - - News -

KUALA LUMPUR: Malaysia con­tin­ues to em­brace the e-com­merce cul­ture and is well on its way to cre­at­ing an in­no­va­tive and vi­brant dig­i­tal ecosys­tem by fos­ter­ing closer part­ner­ship with China in ef­forts to sus­tain eco­nomic growth.

Malaysia Dig­i­tal Econ­omy Corp (MDEC) and Alibaba Group re­cently signed a mem­o­ran­dum of un­der­stand­ing to con­nect e-hubs un­der the Elec­tronic World Trade Plat­form (eWTP).

In a state­ment, HSBC Bank Malaysia Bhd said the part­ner­ship aimed to build in­fra­struc­ture for seam­less cross-border e-com­merce trade be­tween Malaysia and China, as well as act as a hub for small and medium en­ter­prises (SMEs) look­ing to run com­mer­cial ac­tiv­i­ties where they could ob­tain ser­vices en­com­pass­ing e-com­merce, cloud com­put- ing, lo­gis­tics, mo­bile pay­ments and tal­ent train­ing.

Chief ex­ec­u­tive of­fi­cer Mukhtar Hussain, said the in­creas­ingly wide­spread dig­i­tal tech­nol­ogy was crit­i­cal to am­pli­fy­ing pro­duc­tiv­ity, in­no­va­tion and liv­ing stan­dards across the wider econ­omy.

“With the eWTP, Malaysia is pro­gress­ing its eco­nomic transformation vi­sion and tak­ing a step to­wards be­com­ing the lead­ing sourc­ing and ful­fil­ment hub in Asia,” he said.

He said Malaysia's long awaited #MYCYBERSALE, in col­lab­o­ra­tion with MDEC, looked to achieve more than RM300mil in gross mer­chan­dise value (GMV) this year, a 42% in­crease from 2016’s RM211mil, dur­ing its five-day run from Oct 9-13, 2017.

This ini­tia­tive aimed to en­cour- age more than 1,000 on­line SMEs to em­brace e-com­merce and boost in­no­va­tion while stim­u­lat­ing the do­mes­tic e-com­merce mar­ket.

“The suc­cess of the ini­tia­tive shows that Malaysians are con­tin­u­ing to em­brace the e-com­merce cul­ture. We can def­i­nitely see a shift in the way Malaysians are shop­ping. It is good to see the e-com­merce in­dus­try and dig­i­tal econ­omy grow­ing so steadily,” Mukhtar said.

He said the en­try of global elec­tronic wal­let (e-wal­let) providers was also ex­pected to trans­form the pay­ment sys­tem land­scape in Malaysia.

The emer­gence of e-wal­lets will fur­ther con­trib­ute to the de­vel­op­ment of e-com­merce and en­hance the re­tail pay­ment sys­tems by of­fer­ing fast, easy and se­cure pay­ment pro­cesses. — Ber­nama

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.