Kuala Lumpur, 10th June 2016 – In a bid to help the E-Commerce sector in Malaysia achieve its full potential, as well as “future-proof” existing businesses, the National E-Commerce Council (NeCC), has been placed in charge of a plan with six thrust areas aimed at boosting the e-commerce industry.
The six thrust areas, which are under the Malaysia National E-Commerce Strategic Roadmap, are to be a “stepping block to ‘future-proof’ existing businesses, as well as expand market access, according to Wee Huay Neo, Director of E-Commerce Enablement at the Malaysian Digital Economy Corporation (MDEC), during the launch of the roadmap on June 10th, at Menara MITI, the inaugural E-Commerce Day.
“The Malaysian E-Commerce industry is projected to grow at a compound annual growth rate (CAGR) of 11%, but has the potential to double that growth by 2020,” said Wee.
The roadmap, which is still to be finalised at this juncture, aims to accelerate adoption of e-commerce by brick and mortar sellers, while increasing the adoption of e-Procurement by businesses as its first two thrusts.
The third thrust is to lift non-tariff barriers, which focuses on domestic e-fulfillment, cross-border E-Commerce, e-payment, and consumer protection. This thrust aims to further raise the appeal of E-Commerce, as well as assure both buyer and seller that they would be protected by regulations.
The fourth thrust is to realign existing economic incentives with the new focus, which is E-Commerce, while the fifth thrust would be to make strategic investments in select E-Commerce players. The sixth thrust is to promote the national brand to boost cross-border E-Commerce.
This sixth thrust, which enables all stakeholders in the E-Commerce ecosystem to contribute, will be based on having good and affordable infrastructure, and serves as supportive government framework towards the goal of doubling Malaysia’s E-Commerce growth.
“The Government is committed to increasing the adoption of E-Commerce in the country. The 11th Malaysia Plan, for example, has set the GDP contribution for the E-Commerce sector at 6.4% or RM114 billion by 2020,” said International Trade and Industry Minister YB Dato Sri Mustapa Mohamed.
The day also saw the exchange of two memorandums of Understanding between MATRADE and 11street, and MATRADE and DagangHalal, for collaborative initiatives in E-Commerce. The MoUs will provide an avenue for Malaysian exporters to leverage on the training offered and to have an opportunity to be listed on the e-marketplaces.
The collaborations will also help to foster the growth of online sellers, which would be consistent with the first thrust of the roadm