Digital free trade zone makes much sense

Prime ministers Najib Tun Razak with Jack Ma, is a Chinese business magnate who is the founder and executive chairman of Alibaba Group

I MUST applaud Prime Minister Datuk Seri Najib Tun Razak for his initiative and foresight to introduce an e-free trade zone (e-FTZ) in the country which he will be launching in March next year. It will be the first in the world.

The proposed e-FTZ will be a boon for entrepreneurs, especially those who sell all or most of their products overseas online and the e-entrepreneurs who embrace the new digital economy and who mostly are in the SME category. Those who, like me, import raw materials to make our products will be able to realise lower production costs as we do not have to pay import duties, among others. This will reduce our overall costs and increase our profits.