Digital Free Trade Zone (DFTZ) – Malaysia SME Should Know About
Digital Free Trade Zone (DFTZ – Helping Malaysian SMEs Reach Global Market.
The Digital Free Trade Zone (DFTZ) announced in 2017, is an incentive from Malaysia government. This incentive helps SMEs grow, by promoting the use of the internet for trading goods. Besides, this is a program assisting local businesses in Malaysia export their products worldwide more conveniently. This, which in turn is expected to affect the economic growth of the nation directly. Hence, as a program, the government expects it will help reach the country’s eCommerce profit to RM211 billion by 2020 and create 60,000 jobs by 2025.
This is program all to create a business environment in Malaysia that sees local SMEs use eCommerce platforms extensively for the cross-border trade. The Digital Free Trade Zone (DFTZ) has there components:
This is to help the SMEs get access to the leading online fulfillment services to store and ship their products.
Satellite Services Hub
The Satellite Services Hub is to help SME owners network with institutions for services like insurance, last mile fulfillment, etc. which are necessary for effective international trade.
The eServices platform consists of processes needed to cover international trading. It connects businesses with the government and other companies from around the world/ Malaysia is the among first country to have an eServices platform, and later on, as other countries will also implement the concept of this platform, online trading will be more efficient.
Objectives Of The Program
Here are the objectives of the Digital Free Trade Zone (DFTZ) In brief:
- First is to make it easy for Malaysian SMEs to export their goods worldwide.
- Next, this program is to help international markets places and consumers convenient access to Malaysian products.
- This program also aims to make Malaysia a regional fulfillment hub for leading global brands to reach ASEAN costumers.
- Finally, Digital Free Trade Zone is expected to be a new way of innovating the Malaysian economy, making it a country focusing on effective use of the internet to provide its goods a vast marketplace.
A program with a lot of plan backing up, Digital Free Trade Zone (DFTZ) has a lot of strategies backing it up to help it reach its objective. The components in this program are to help give better warehousing and storing facilities to the goods and help accelerate clearance of the cargo. Also, this program, as it is being implemented, a matter of fact, will be attracting more local people into entrepreneurship, with it significantly contributing to the GPD, short, and long term. This program is also another step to make Malaysia a technology-driven country, with it focusing on innovation to give its products a good market, globally, and this will also help Malaysian local SMEs to be globally recognized brands, household names around the world.
Digital Free Tade Zone (DFTZ) indeed, is a program, but the right entrepreneurial minds think of it as a great opportunity. The government has done its part; now it is your time to make use of it and see our business in a whole new way. For more information about the program and to contact the DFTZ directly, contact in the address below.
Malaysia Digital Economy Corporation (MDEC) Sdn Bhd
2360 Persiaran APEC
Selangor Darul Ehsan
1 800 88 8338
+6 03 8315 3115
+6 03 8315 3000
This was it for the article. I hope this will help you.