Help for those going into online businesses

Wan Junaidi

KUCHING: The Ministry of Entrepreneur Development and Cooperatives (MEDAC) aims to assist more entrepreneurs to venture into online businesses while assisting those already in the field to enhance their e-commerce platforms.

Its minster, Datuk Seri Dr Wan Junaidi Tuanku Jaafar, said this is to recognise the performance and potential in the e-commerce sector in expanding the market of entrepreneurs and cooperatives.

“Based on statistics from the Malaysia Digital Economy Corporation (MDEC) and the Department of Statistics Malaysia (DOSM), the country’s e-commerce sector has contributed RM127 billion of the total Gross Domestic Product (GDP) last year.

“This is an improvement compared to the year 2015, which recorded RM89 billion,” he said today.

He also said the ministry is concerned about the impact of Covid-19 pandemic on small and medium enterprises (SMEs), micro and cooperative enterprises as well as informal entrepreneurs.

“With the e-commerce platform that will be implemented, it is expected to enhance the economic growth of small and medium enterprises (SMEs) and micro-entrepreneurs,” he said.

He said the initiative include expanding entrepreneurial access to RM150 million in alternative funding sources.

Earlier, Medac also initiated a discussion with companies or operators of the online market (e-commerce) to discuss potential collaboration, cooperation and support to help entrepreneurs (including micro and informal traders) and cooperatives, to enhance their businesses via e-commerce.

A total of 13 representatives from top e-commerce operators participated in the discussion.