Malaysia’s e-commerce on growth estimation
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The government is targeting for e-commerce to achieve an annual growth rate of 20%, from a 14.3% growth posted in 2017, via its various initiatives. Deputy International Trade and Industry Minister Dr Ong Kian Ming said e-commerce registered a continuous increase for the period of seven years to RM85.8 billion in 2017.
He said the government, through the National E-commerce Council, will continue to chart the growth and development of e-commerce in the country through the implementation of the National E-commerce Strategic Roadmap.
Malaysia also signed the Asean Agreement on Electronic Commerce on Nov 12, 2018, a concerted effort between 10 countries to smoothen cross border e-commerce transactions by reducing barriers and lowering entry costs.
Questions & Answers
Q.What annual growth rate does the government aim for e-commerce to achieve?
What annual growth rate does the government aim for e-commerce to achieve?
The government is targeting an annual growth rate of 20% for e-commerce. This is an increase from the 14.3% growth recorded in 2017.
Q.What was the total value of e-commerce in 2017?
What was the total value of e-commerce in 2017?
E-commerce in Malaysia reached a total value of RM85.8 billion in 2017. This figure represents a continuous increase over the preceding seven years.
Q.How does the government plan to foster e-commerce growth?
How does the government plan to foster e-commerce growth?
The government plans to foster growth through various initiatives, including the National E-commerce Strategic Roadmap, implemented by the National E-commerce Council.
Q.What is the purpose of the Asean Agreement on Electronic Commerce?
What is the purpose of the Asean Agreement on Electronic Commerce?
The Asean Agreement on Electronic Commerce aims to facilitate cross-border e-commerce transactions. It seeks to achieve this by reducing barriers and lowering entry costs for businesses.
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