Digital zone not just for Alibaba, says deputy minister
Govt is in talks with Amazon.com and other global e-commerce platforms on possible participation in digital free trade zone.
PETALING JAYA: The government is currently in talks with qualified international e-commerce platforms, such as Amazon.com, to take part in the Digital Free Trade Zone (DFTZ).
Deputy International Trade and Industry Minister Chua Tee Yong said the DFTZ is not solely for China’s e-commerce giant Alibaba Group, even though the company was the first to come on board.
“Many assume that the DFTZ is only for Alibaba.
“Alibaba was just the first platform that decided to work together with the government on the free-trade zone,” he told reporters after launching the Platinum Business Awards (PBA) 2018 here today.
He added that the announcement on the discussions with these global e-commerce platforms would be made later this year.
He cited Johor’s Pengerang oil and gas hub as an example. He said Pengerang is not solely operated by Petronas.
Chua said the DFTZ would also see the participation of other industry players.
“Discussions with the e-commerce players, including local companies, is to ensure they have the capability, financial support and logistics to participate in the DFTZ,” he said.
Soft loan for traditional Chinese SMEs
Meanwhile, Small and Medium-sized Enterprise Association of Malaysia (SME Malaysia) president Michael Kang Hua Keong said an e-commerce soft loan scheme, exclusively for Malaysian Chinese youths, aged between 18 and 45, is expected to be launched by Prime Minister Najib Razak on April 1.
Kang said the government had allocated RM50 million to encourage traditional Chinese SMEs, especially the second generation, to embrace e-commerce.
“This will help them expand their business via the e-commerce platform, while continuing their traditional way of doing business.
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“Each qualified borrower can apply for a maximum RM30,000 loan at a 4% annual interest rate,” he said.