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Malaysian e-commerce sales to reach RM1.65 trillion by 2025


Malaysia's e-commerce revenue has surpassed RM1 trillion by 2021, according to Mahadhir Aziz, CEO of the Malaysia Digital Economy Corporation (MDEC).

He said the country is on track to reach RM1.65 trillion by 2025, supported by the National E-Commerce Strategy Roadmap (NESR) led by MDEC. Mahadir added that the NESR is a stepping stone towards digital trade and utilising the opportunities afforded by digitisation.

"Malaysia's digital trade is expected to benefit greatly from the ratification of the Regional Comprehensive Economic Cooperation Agreement (RCEP). Malaysia is among the 15 countries in RCEP, which is in effect the largest free trade agreement (FTA) in the world."

Speaking at the launch of Meta Malaysia's #JomCelikDigital Dengan Meta on Thursday 7 April, he said, "This means that local businesses now have vast access and opportunities within the world's largest trade bloc."

Mahadir said MDEC's #SayaDigital campaign, a platform for micro, small and medium enterprises (MSMEs) in Malaysia to adapt digitally, has successfully adapted 500,000 companies (of which 157,566 are women entrepreneurs) to e-commerce platforms and e-payment systems She added that the campaign has resulted in As a result, 85 million transactions were concluded, with a gross merchandise value (GMV) of over RM4.6 billion.

'We are confident that we are now over RM1 trillion and this is in line with our 2025 target. And based on data during the MCO (Movement Control Order), which led to a surge in online business, the momentum is there and should be sustained in the future'.

Meta spurs Malaysia's digital economy #JomCelikDigital Dengan Meta, the country's largest digital upskilling initiative, which focuses on the B40 (low income) group, micro, small and medium enterprises (MSMEs), tertiary graduates and job seekers.

Announced at a hybrid press conference by Mahadhir and Nicole Tan, Country Director of Meta Malaysia, the programme has four digital upskilling programmes that will be phased in from 14 April.

The first programme is Meta Boost, which provides free educational workshops to more than 1,000 B40 communities and SMEs nationwide to equip them with digital skills for successful customer engagement. The programme includes free educational workshops and training by Meta's programme partners.

Secondly, Pasar WhatsApp aims to teach more than 1,000 MSMEs the various features of WhatsApp Business to digitise their business. Participants will be introduced to features such as the catalogue, auto-responders and how to create a quick business profile containing essential information for customers contacting them through WhatsApp.

The Facebook Blueprint Higher Education Programme is also part of the Facebook Blueprint Training Programme, which provides more than 1,000 local entrepreneurs and SMEs with Instagram tools and educational materials to help them connect with their customers and communities in more engaging ways, such as through short videos like Reels.

Finally, the Facebook Blueprint higher education programme aims to equip students with real-world digital marketing skills and help educators develop a digitally savvy workforce. with over 1,000 student participants and Blueprint Digital Marketing Associate (Blueprint DMA) accreditation for 500 students. Workshops will be conducted by local Blueprint Certified Lead Trainers, and those who complete the programme will become Meta Certified Digital Marketing Associates, adding significant value to students' CVs Tan of Meta said that digital transformation is no longer a luxury item, especially necessary for MSMEs, who have faced many challenges in the past two years because of Covid-19, he said.

'The development of the latest digital technologies will not only bring changes to existing business models, but also new creations, the introduction of new products and services, and more efficient business processes, ultimately making businesses, especially entrepreneurs and SMEs, more competitive,' she said.

Source: The Edge