Budget 2018 favourable to eCommerce sector and SMEs

KUALA LUMPUR: The initiatives unveiled during the Budget 2018 has been viewed as favourable for the small and medium enterprise (SME) industry and also the eCommerce sector.

eCommerce platform, Lazada, lauded the government’s efforts in improving the eCommerce landscape. In Lazada Malaysia’s post-budget commentary, chief executive officer (CEO) Hans-Peter Ressel, said: “Budget 2018 not only underlines eCommerce as a primary driver towards Malaysia becoming a fully developed digital economy, but also digitalise the country as a whole in preparation for the coming Fourth Industrial Revolution.”

He highlighted that the allocation of RM 83.5 million for the first phase of the Digital Free Trade Zone (DFTZ) at KLIA which is expected to further spur the growth of SMEs and attract investments worth up to RM700 million.

“As the number one online shopping and selling destination in Malaysia, we are committed in supporting our local SMEs and helping them build their eCommerce businesses.

“Through our #EveryoneCanSell programme, sellers will enjoy full access to eCommerce training, easier business registration, enhanced internet connectivity with online tools and solutions, as well as financial support through loan financing and exclusive merchant accounts.

“We hope to boost SMEs’ capabilities when they capitalise on #EveryoneCanSell’s holistic digital ecosystem, so they remain competitive online,” he added.

Meanwhile, 11street chief operating officer (COO) Chuljin Yoon, lauded the government’s support to continue growing the e-commerce market, enabling a thriving digital economy to shape the country’s future.

He pointed out that Budget 2018 is designed to shaping the future of Malaysia’s economy, comes in a time where the country’s economy continues to strengthen.

“Furthermore, the development of the DFTZ hub in KLIA continues to help Malaysia edge closer to its digital economy vision, while improve the livelihood of Malaysians through growing job and entrepreneurship opportunities, and reduction of income tax for the M40 category.

“Along with tax reliefs, incentive measures and the vision to make Malaysia a regional e-commerce hub, SMEs and e-commerce will continue to play a vital role achieving the digital economy vision of contributing 20 per cent to the gross domestic product (GDP) in 2020.”