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Malaysia: Tap new opportunities, SMEs urged
KUALA LUMPUR: The Prime Minister wants at least 10,000 small and medium enterprises to take part in Chinese e-commerce giant Alibaba’s Singles Day sale and Malaysia Week online promotion next year.
Datuk Seri Najib Tun Razak said local SMEs should tap new opportunities to expand their markets, following the rollout of the Digital Free Trade Zone (DFTZ).
Set up by Alibaba and the Malaysian Digital Economy Corporation, the DFTZ was opened on Nov 3.
Situated at the KLIA Aeropolis, the DFTZ makes it easier for local SMEs and e-commerce businesses to sell their products globally.
“I want our SMEs to participate, not just the 1,972 SMEs that signed up with the DFTZ during its launch.
“We want 10,000 eventually, and we want them all to export their products,” Najib said at a dialogue session before opening the SME Annual Showcase and SME Conference 2017 here yesterday.
The Prime Minister said Alibaba Group founder and executive chairman Jack Ma would promote Malaysian products online for one week next year on his company’s online platforms.
“In addition, the Singles Day sale which recorded US$18bil in sales last year saw the figure going up to US$24bil this year.
“This is double-digit growth, so I want our SMEs to participate.”
Najib said among the goods that local SMEs could export using e-commerce were durian-based and birds’ nest products, which he added were in high demand in China.
He said micro businesses and SMEs made up 98.5% of all business enterprises in Malaysia.
“We have set a target for SMEs to make up 41% of the country’s Gross Domestic Product by 2020,” he said. The figure is now at 36.9%.
The three-day event that ends today is organised by SME Corp Malaysia.
It is a platform for SMEs to show their readiness to sell to global markets.
More than 300 exhibitors, comprising SMEs, multi-national corporations as well as local and international government agencies, are taking part.
Malaysia aims to achieve sales of RM555mil at the event.
Source: http://www.thestar.com.my/news/nation/2017/11/17/tap-new-opportunities-smes-urged-najib-i-want-10000-companies-to-take-part-in-singles-day-next-year/#Ac0T4orJQU0Wrihd.99