Prime Minister Datuk Seri Najib Tun Razak said Malaysia aimed to double small and medium enterprise (SME) export growth rate by 2025 with the Digital Free-Trade Zone (DFTZ). “We estimate US$65 billion (US$1=RM4.43) worth of goods will be moving through the DFTZ, with 60,000 direct and indirect jobs created as a result of this growth. There is enormous potential in this industry and I intend to fully explore this opportunity so that many more Malaysians will get to take advantage of it.”

He said the digital economy would play an important role in driving the country’s growth and development as it was the only sector that could provide double-digit growth.n”Inclusivity is an essential part of our economic growth and development,” the premier said, adding that DFTZ was an initiative to capitalise on the confluence and exponential growth of the Internet economy and cross-border e-Commerce activities.

The newly launched DFTZ is the first in the world outside of China. “In an era where geographical boundaries were blurred, it was important for everyone to keep up and embrace globalisation. Additionally, it would merge physical and virtual spaces, providing offline as well as online digital services. The e-Fulfillment Hub aims to help SMEs and businesses export their goods easily, while the Satellite Services Hub will be the region’s digital hub for global and local Internet-based companies facilitating end-to-end support.”

“The third component of DFTZ is the e-Services platform that will manage cargo clearance and other processes needed for cross-border trade,” he added. The first e-Fulfillment Hub would be located at KLIA Aeropolis, while an area in Bandar Malaysia would be dedicated to the initiative as well.

Source: BERNAMA