Internet transactions in Malaysia projected to grow to RM5 bln this year

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KUALA LUMPUR: Internet transactions in Malaysia are projected to grow exponentially to RM5.0 billion by this year from RM900 million registered last year, Minister in the Prime Minister’s Department Datuk Dr Wee Ka Siong said.

Speaking at the soft launch of Asiatradeex.com, Malaysia’s first ever business-to-business (B2B) marketplace, Wee said the scenario would indirectly impact the B2B marketplace too. Unlike business-to-consumer (B2C) e-marketplaces which are flooding the industry now, Asiatradeex.com enables listing of suppliers and buyers of raw materials, machinery, business process outsourcing services and more that businesses need.

“B2B e-commerce will be important over the next few years, especially with the Asean Economic Community (AEC) initiative which will see freer flow of products, services and manpower across Southeast Asian countries’ borders,” Wee said.

Meanwhile, Cheah Kok Hoong, Chairman of PIKOM, the National ICT Association of Malaysia, who was also present at the soft launch, commented that there are over 800,000 micro-and small-sized enterprises in Malaysia.

“This segment is responsible for 33 per cent of the national GDP and provides employment to over 40 per cent of Malaysia’s workforce. But they are still lagging behind in terms of ICT adoption,” Cheah said.An online e-commerce platform like Asiatradeex.com could help improve the procurement process for these businesses, as well as provide an avenue for them to grow, he said.

“Technology is an important enabler. The SME segment does not need to be expert at it, but they can enjoy its benefits via technologies like cloud computing,” he said.

Also in attendance at the event were chairmen and senior representatives of 40 reputable national business and trade associations with a collective of over 200 state affiliate bodies; as well as government agencies and CEOs from local companies. — Bernama