Wednesday, Jan 26, 2022
International Finance
SME

Alibaba-backed DFTZ project attracts SMEs in e-commerce

SMEs, e-commerce, Digital Free Trade Zone, DFTZ, Malaysia, Alibaba, Kuala Lumpur International Airport, Green World Recycling
The number of SMEs in the project has increased from 1,972 to 2,651 and targets a reach of 10,000, says Minister of International Trade and Industry Mustapa Mohamed

Officials said SMEs taking part in an e-commerce project Digital Free Trade Zone (DFTZ) backed by the Malaysian government and China’s Alibaba have generated sales revenue worth US$13.5mn since the launch.

According to Xinhuanet, Minister of International Trade and Industry Mustapa Mohamed said: “This initiative is going to help a lot of SMEs, it’s going to bring more SMEs from every part of Malaysia to the world stage.”

The project was launched by the Malaysian Prime Minister Najib Razak and Alibaba Executive Chairman Jack Ma in November.

The Malaysian government has plans to invest efforts to expand the DFTZ project beyond the Kuala Lumpur International Airport. The purpose includes all types of connectivity including sea, land and rail.

Business Development Manager for Green World Recycling Hozem Lim said DFTZ and Alibaba-related clearance and customs services have enhanced the overall business efficiency for SMEs.

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