Malaysia government sets 20% annual growth target for e-commerce sector

Malaysia government sets 20% annual growth target for e-commerce sectorThe Malaysian government has set an annual growth rate target of 20 per cent for the e-commerce sector in the country, from 14.3 per cent growth posted in 2017, via various initiatives.

International trade and industry minister Darrell Leiking said e-commerce contribution to GDP in Malaysia continuously improved over a period of seven years to 85.8 billion ringgit ($20.7 billion) in 2017 from 37.7 billion ringgit ($9.1 billion) in 2010, with an average annual growth rate of 12.5 per cent.

He added that the government through the National E-Commerce Council (NECC) will continue to support the growth and development of the sector through the implementation of a respective strategic national e-commerce roadmap.

Since its establishment in 2016, the NECC’s achievements in developing and enhancing the e-commerce ecosystem’s competitiveness included registering over 120,000 online businesses at the Companies Commission of Malaysia.

Small and medium enterprises registered with the “Go eCommerce” platform – an initiative aimed at guiding companies in e-commerce adoption – exceeded 20,000.

The implementation of the Digital Free Trade Zone pilot project in Cyberjaya supported by Alibaba founder Jack Ma has also accelerated the growth of e-commerce activities by providing a platform for local enterprises to conduct their business and services.

Furthermore, on November 12, 2018, Malaysia signed the ASEAN Agreement on Electronic Commerce, a concerted effort between the ten countries of the bloc to smoothen cross border e-commerce transactions by reducing barriers and lowering entry costs.

 



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The Malaysian government has set an annual growth rate target of 20 per cent for the e-commerce sector in the country, from 14.3 per cent growth posted in 2017, via various initiatives. International trade and industry minister Darrell Leiking said e-commerce contribution to GDP in Malaysia continuously improved over a period of seven years to 85.8 billion ringgit ($20.7 billion) in 2017 from 37.7 billion ringgit ($9.1 billion) in 2010, with an average annual growth rate of 12.5 per cent. He added that the government through the National E-Commerce Council (NECC) will continue to support the growth and development of...

Malaysia government sets 20% annual growth target for e-commerce sectorThe Malaysian government has set an annual growth rate target of 20 per cent for the e-commerce sector in the country, from 14.3 per cent growth posted in 2017, via various initiatives.

International trade and industry minister Darrell Leiking said e-commerce contribution to GDP in Malaysia continuously improved over a period of seven years to 85.8 billion ringgit ($20.7 billion) in 2017 from 37.7 billion ringgit ($9.1 billion) in 2010, with an average annual growth rate of 12.5 per cent.

He added that the government through the National E-Commerce Council (NECC) will continue to support the growth and development of the sector through the implementation of a respective strategic national e-commerce roadmap.

Since its establishment in 2016, the NECC’s achievements in developing and enhancing the e-commerce ecosystem’s competitiveness included registering over 120,000 online businesses at the Companies Commission of Malaysia.

Small and medium enterprises registered with the “Go eCommerce” platform – an initiative aimed at guiding companies in e-commerce adoption – exceeded 20,000.

The implementation of the Digital Free Trade Zone pilot project in Cyberjaya supported by Alibaba founder Jack Ma has also accelerated the growth of e-commerce activities by providing a platform for local enterprises to conduct their business and services.

Furthermore, on November 12, 2018, Malaysia signed the ASEAN Agreement on Electronic Commerce, a concerted effort between the ten countries of the bloc to smoothen cross border e-commerce transactions by reducing barriers and lowering entry costs.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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