KUALA LUMPUR: The ecommerce sector is expected to increase its contribution to the economy this year from the RM115.5 bil or 8% last year, given the strong momentum and greater participation by local businesses.
“We believe that these numbers will continue to grow through the increasing number of business owners utilising digital applications and platforms to drive their business growth,” said Communications and Multimedia Ministry secretary-general Datuk Suriani Ahmad in conjunction with eCommerce Day 2019 on Dec 9.
The two-day event, until Dec 10, with the theme “From Local to Global Champion!” is aimed at encouraging and inspiring business owners to adopt ecommerce and trade across borders.
Suriani also said that the country’s digital economy, valued at RM267.7 bil in 2018 (18.5% contribution to the economy), has the potential to fortify Malaysia as the Heart of Digital Asean.
Meanwhile, Malaysia Digital Economy Corporation (MDEC) CEO Surina Shukri, who was also present at the event, said the digital platforms are already enabling local business owners to be on board the ecommerce highway and connecting them with global buyers.
“By 2020, ecommerce will be the key driver of the nation’s digital economy. As such, Malaysia will continue to introduce new and streamlined initiatives that will empower ecommerce adoption among local businesses.
“It will also foster interest among key industry players that will amplify strategic investments into Malaysia and the region,” she added.
On the implementation of the digital tax that is to be rolled out from Jan 1, 2020, Surina said it would help level the playing field between local companies and foreign companies.
“Today local companies are already paying a version of that tax but the foreign companies are not … for example, Iflix is paying the tax but Netflix, no,” she pointed out.
The digital tax was announced in the 2019 budget – 6% on paid digital services including video, music and app purchases.
Organised by MDEC, eCommerce Day brings together industry players who are committed to taking the nation’s digital economy to the world stage.
Some 1,500 participants including SMEs and ecommerce industry players are attending the event. – Bernama
