DFTZ, NESR to boost e-commerce contribution to GDP
KUALA LUMPUR: Government interventions, with the recent launch of Digital Free Trade Zone (DFTZ) and National eCommerce Strategic Roadmap ( NeSR) initiatives, will boost eCommerce’s contribution to Malaysia’s gross domestic product (GDP), said International Trade and Industry Minister, Datuk Seri Mustapa Mohamed.
The minister said with the two initiatives, coupled with efforts to drive the national digital economy agenda, the eCommerce contribution to GDP was expected to hit nine to 10 per cent by 2020.
“eCommerce will contribute significantly to our digital economy. In 2015, its share of the nation’s GDP was around 5.4 per cent, and if we do nothing or business as usual, it might just reach 6.4 per cent by 2020,” he told reporters on the sidelines of the National eCommerce Forum organised by the Ministry of International Trade and Industry (MITI) yesterday.
Mustapa who is also the Chair of the National eCommerce Council said the council had initiated various activities and events to spearhead the development of eCommerce in Malaysia, aimed at almost doubling its growth from 11 per cent currently to 20 per cent by 2020.
The National eCommerce forum here was attended by more than 1,000 participants with 50 exhibitors from various eCommerce segments, including eMarketplaces (such as Lazada and AgroBazaar Online); payment solutions (MOLPay and IPay88); logistic providers (Pos Malaysia, GDEX and SkyNet); solution providers (Webshaper and Sitegiant); Chambers of Commerce and associations; as well as online sellers including from the Small and Medium Enterprises (SMEs).
Themed “Embracing Digital Transformation”, the halfday forum highlights the Government’s efforts to reach out to eCommerce players along the value chain, particularly the SMEs, on the importance of embracing digitalisation to sustain their businesses amid the challenging economic environment.
Mustapa in his welcoming remarks earlier said SME development would remain the key focus area under the Government’s digital transformation agenda.