Local industries should move towards digitalisation in new norm, urges deputy minister

Local industries should move towards digitalisation in new norm, urges deputy minister

Bernama / Bernama
The Edge Markets
June 04, 2020 13:41 pm +08

KUALA LUMPUR (June 4): Local industries and businesses should turn to digitalisation as a medium in establishing Malaysian brands globally in the “new normal” era.

Deputy International Trade and Industry Minister Datuk Lim Ban Hong said it is important for traders and Malaysians to strike an ideal balance between saving lives and income sources amid the country’s battle against the Covid-19 pandemic.

He added that one of the alternative approaches to digital transformation is getting local industries to participate in e-commerce activities.

“E-commerce gives local small and medium enterprises (SMEs) opportunities to market and promote their products to bigger markets as easily as using smartphones.

“The government has provided incentives and assistance to encourage e-commerce adoption among SME entrepreneurs,” he said in a statement today.

According to statistics published by the ministry, in 2018, the e-commerce sector contributed RM115.5 billion, equivalent to around 8% of the country’s gross domestic product (GDP).

“Malaysian companies should view these changes positively and take advantage of the situation to accelerate digital transformation that can help to boost sales volume,” he said.

One of the government’s incentives to boost digital adoption is the eTRADE Programme by Malaysia External Trade Development Corporation (Matrade), one of the agencies under the ministry.

The programme offers financial assistance to eligible applicants in the form of e-vouchers or reimbursement, or both.

Companies participating in the programme stand a chance to enter various international e-commerce platforms, including those in Asean countries, China, India and the US.

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