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Malaysia’s Digital Free Trade Zone goes live: Here’s a Deep Dive on the ROIs

AvantiKumar | Nov. 6, 2017
How will the rapidly launched Digital Free Trade Zone (DFTZ) in Malaysia actually break through cross-border challenges and lift SMEs into the digital economy?

The DFTZ initiative will:

  • Increase the SMEs goods export to USD38 billion, create over 60,000 jobs and support US$65 billion worth of goods moving through DFTZ by 2025.
  • Make Malaysia Asia's leading transhipment Hub by 2025

For SMEs, the benefits are expected to include:

  • Wide range of support services for trade, including the launch of Malaysian Pavilion on Alibaba to help promote quality Malaysian products to global buyers
  • Malaysian SME's will benefit from Smart Marketing services on the platform which will help SMEs market their products better
  • More than 1,900 export-ready Malaysian SMEs are on the platform
  • MATRADE supports SMEs on DFTZ through the TRADE Programme - a programme where Malaysian companies are encouraged to adopt cross border eCommerce to accelerate exports by participating in leading international eMarketplaces. MATRADE first collaboration in the eTRADE Programme was with Alibaba
  • SME Corp. Malaysia is a Central Coordinating Agency that formulates overall policies and strategies for SMEs and coordinates the implementation of SME Development Programmes across all related Ministries and Agencies. It acts as the central point of reference for research and data dissemination on SMEs, as well as provides advisory services for SMEs in Malaysia. SME Corp. Malaysia also assumes the role of the Secretariat to the National SME Development Council, which is chaired by YAB Prime Minister of Malaysia

On a final note, why Malaysia? Ma answered: "Since day one of our collaboration, Malaysia has never failed to impress me. I would like to take this opportunity to congratulate the Malaysian Government and all involved in turning DFTZ into a reality. The Electronic World Trade Platform (eWTP) initiative's goal is to build an inclusive and innovative global trading platform for SMEs, young people and consumers. We are proud to share this vision with DFTZ. I believe that this is the beginning to a long-standing strategic partnership between the two nations. Alibaba Group definitely plans to stay and strengthen our presence here."

To see more about Digital Malaysia, go to:

The latest edition of this article lives at Computerworld Malaysia

 

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