The announcement of the much-anticipated Digital Free Trade Zone (DFTZ) by Prime Minister Datuk Seri Najib Tun Razak today comes amidst a time where businesses in Malaysia are encouraged to capitalise on this initiative to boost the Digital Economy in the country. First-ever and a pilot programme, we foresee the DFTZ to benefit local SMEs and entrepreneurs, and pave the way to a more global market for them.
With the implementation of a DFTZ in Malaysia, the comprehensive approach, covering fulfilment, global supply chain, payment gateways, training and employment prospects, will set a conducive platform to cement Malaysia as a digital hub in the Southeast Asia region, as well as to encourage traditional brick-and-mortar businesses especially local SMEs to transition onto the e-commerce sphere, and trade across ASEAN countries and soon, the world.
Furthermore, the Government’s introduction of a Digital Free Trade Zone exemplifies an intention to impart knowledge and equip entrepreneurs with the knowledge and know-hows of e-commerce complementing the vast facilities that the trade zone will stand to offer. Resonating this intention, 11street’s owned training programme which is recognised by the Malaysian Digital Economy Corporation (MDEC) aims to help e-entrepreneurs understand the basic rudiments of online business, sharing with them the effective strategies that will propel their businesses to a different height and be competitive in the global market.
In conclusion, the Digital Free Trade Zone is shaping up to be a boon to local SMEs. The trade zone will serve as gateway to the ASEAN market and allow local products to tap into a wider market. We at 11street will continue to support to initiatives to evolve e-commerce in Malaysia, so as to open up opportunities for a better e-commerce climate for both e-commerce platforms and also entrepreneurs.