KUCHING (Oct 15): Sarawak plans to develop eCommerce masterplan to capitalise on the emerging industry’s available potentials in its quest to make online business a serious venture for local entrepreneurs.
Chief Minister Datuk Patinggi Abang Johari Tun Openg said this was important in complementing the state’s digital economy strategy, launched to propel its economic growth towards achieving high-income status by 2030.
“One of the important components is eCommerce which has become a vital business trend due to the advancement of information and communications technology and digital technology, making eCommerce easily adoptable by the public at large.
“More importantly, we are now living in the global village where we can do cross-border business more easily with the assistance of Internet of Things (IoT) and globalisation,” he said in his keynote address at the Sarawak eCommerce Forum 2019 here, today.
The text of his speech was read by International Trade and Industry, Industrial Terminal and Entrepreneur Development Assistant Minister Datuk Mohd Naroden Majais.
Abang Johari noted that according to eMarketer.com, in 2018 alone, the Malaysian eCommerce saw a total revenue of US$1.31 billion (RM5.49 billion) across all product categories, and it was expected to grow to US$2.53 billion (RM10.6 billion) by 2022.
Sarawakians, he noted, had spent about RM19.42 million through online platforms like Zalora, Lelong.com and Qoo10 in 2018.
“Rising income, growing smartphone and Internet penetration are all factors that will grow Malaysia’s online market and revenue, which is expected to show a compound annual growth rate of 11.4% for the 2019-2023 period,” he said.
As for now, he urged fellow Sarawakians to utilise what is already available, keep abreast of trends and technologies and be creative and innovative to create new products, services and strategies.
“The eCommerce world is still developing rapidly and it’s not too late for us to take part in it. As such, I would like to urge (that) we continue to learn and uncover new skills and technology to remain relevant and competitive in the eCommerce industry.
“Do not rest on your laurels but take this opportunity to explore the many possibilities you can harness and pick the areas that suit your strength and interests,” he said. — Bernama