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MDEC’S Looks to Boost eCommerce Adoption

The Malaysia Digital Economy Corporation (MDEC) recently announced the launch of the Go-eCommerce Expo 2021, a virtual eCommerce conference that will run from 20 to 23 September 2021. The initiative aims to spur local businesses to adopt eCommerce by leveraging on the Belanjawan 2021 Go-eCommerce initiative with assistance and support from various participating partners.

It will also be working closely with a total of 23 partners to ensure a wider audience reach and boost uptake among local businesses.

The objective of the initiative is to promote the use of eCommerce as a new revenue channel that will open doors to more opportunities among local businesses in Malaysia. This will, in turn, promote a multi-channel sales approach that will help local businesses capture a wider audience and drive higher sales.

The CEO of MDEC stated that the pandemic has made it abundantly clear that digital adoption is a necessity for the success of our businesses. MDEC, through the nation’s #SayaDigital initiative, will continue to strongly support local businesses leveraging on the Belanjawan 2021 and the recent PEMULIH programme.

MDEC is positive eCommerce will create more opportunities and revenue streams thereby advancing an inclusive digital economy in line with the Malaysia Digital Economy Blueprint (MyDIGITAL) and Shared Prosperity Vision 2030.

According to the Malaysia Digital Economy Blueprint (MyDIGITAL), the digital economy is set to contribute 22.6% to the country’s Gross Domestic Product (GDP) by 2025, targeting 875,000 micro, small and medium enterprises (MSMEs) to adopt eCommerce.

The Expo will feature experienced industry speakers who will share their experience and tips on how to successfully create brand awareness and sales funnel to driving sales, as well as using social media to boost eCommerce. Last year, the Go-eCommerce Expo attracted over 3,000 registrations and more than 30,000 total viewers through the 12 webinars and 23 speakers featured.

OpenGov Asia also recently reported that MDEC in collaboration with an e-commerce service in Malaysia announced the launch of the Malaysia Select Campaign (via a Malaysia-Taiwan shopping platform) which aims to assists Malaysian businesses to expand to Taiwan.

The campaign is scheduled to run from 1 October to 10 October 2021 and is supported by the Commerce Development Research Institute of Taiwan, Exabytes, EasyParcel and Janio. This online sales campaign also targets to provide support to at least 800 local businesses to increase their sales by at least 30% and gain significant brand exposure in Taiwan.

It was noted that public-private initiatives such as this are important as the Government works to grow Malaysia as an eCommerce producer rather than just merely consumers, in line with the goals of National eCommerce Strategic Roadmap (NESR) 2.0 which aims to place the nation as the largest eCommerce market in the ASEAN-6 region by 2025.

The Chief Digital Business Officer of MDEC stated that the agency aims to further catalyse the growth of eCommerce in Malaysia and is of equal importance, sustaining livelihoods and jobs in the process.

The aim is to accomplish the goals of MyDIGITAL and place the nation firmly on course towards creating a globally competitive digital nation, anchored on inclusivity, sustainability and shared prosperity, firmly establishing Malaysia as the Heart of Digital ASEAN.

In 2020, Malaysia’s e-commerce market is worth US$4.3 billion and is expected to double to $8.1 billion by the year 2024; at 14% CAGR. Malaysia is now catching up to bring its e-commerce infrastructure, including product availability, payments, delivery and regulatory requirements, in line with more established online shopping markets.

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