Najib: Malaysia's Digital Free Trade Zone is a world's first

KUALA LUMPUR: The development of the Digital Free Trade Zone is a world's first, said the Prime Minister.

Datuk Seri Najib Tun Razak said the zone would benefit entrepreneurs by offering a conducive environment for digital companies to carry out their business.

"The initiative is part of the recently launched National E-Commerce Strategic Roadmap which aims to double e-commerce growth from 10.8 % to 20.8% by 2020," he said in his opening remarks at the Global Transformation Forum 2017 on Wednesday.

Najib will be launching the Zone later on Wednesday with Alibaba founder Jack Ma.

The Digital Free Trade Zone, a brain child of Najib and watched over by Ma, will among other things, knock down tariffs imposed on items being shipped into the country that are priced over RM500.