KUALA LUMPUR: Digital marketplace players are hopeful that measures outlined in the 2017 Budget, such as the development of an e-commerce ecosystem and Digital Free Zone can further bring innovation in this space.
Dagang NeXchange Bhd group managing director Zainal Abidin Jalil said that as a whole, the initiatives will contribute to ease of doing business for the country and ultimately, the whole economy.
“The economic growth forecast of four to five per cent next year will be able to positively drive an increase in trade volume for the country.
“In Malaysia, the backbone of the trade eco-system is the National Single Window for trade facilitation, a single window system that allows customs-related electronic transactions and duty payments, and electronic document transfer between members of the trading community,” he said in a statement.
Meanwhile, 11street Malaysia chief executive officer Hoseok Kim said that through focused interventions, such as the National e-commerce Strategic Roadmap Overview – that aims to accelerate the adoption of e-commerce by brick-and-mortar sellers – small and medium enterprises (SMEs) can potentially double its growth beyond 11 per cent.
“From a micro standpoint, SMEs who want to embark on an e-commerce journey ought to equip themselves with in-depth knowledge of online selling either through research or signing up for an e-commerce certification programme,” he said.
Kim said that over the years, e-commerce has matured from the purchase of big ticket items to smaller ones such as household products and even groceries.
Despite the increased subsidy of almost RM10 billion, he said Malaysians ought to still be resourceful and find other means to help stretch their ringgit.