1,500 SMEs to be listed on Alibaba.com by November


Datuk Seri Mustapa Mohamed. -Bernamapic

KUALA LUMPUR: A total of 1,500 pilot small and medium enterprises (SMEs) will be ready for listing on the AliBaba.com e-commerce platform by early November, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

The minister said the selection process was conducted by three agencies - SME Corp Malaysia, Malaysia External Trade Development Corp and Malaysia Digital Economy Corp.

From a list of 6,000 entrepreneurs, Mustapa said, the three agencies shortlisted 2,500 entrepreneurs and to-date 1,500 had been identified.

"Their names had been identified. By early November, these 1,500 SMEs will be listed on the AliBaba.com platform and they will start penetrating global markets," he told reporters after attending an appreciation networking session organised by the Halal Industry Development Corporation, in conjunction with the 6th edition of the Halal Fiesta ASEAN (HALFEST ASEAN 2017), in Kuala Lumpur on Friday.

Mustapa noted that almost 10% of the SMEs participating at HALFEST ASEAN 2017 had already made inroads into foreign markets.

The minister dismissed the conception that the collaboration with AliBaba group would result in Malaysia becoming a dumping ground for China's goods.

He said as AliBaba.com would use Malaysia's Digital Free Trade Zone (DFTZ) as its marketing platform, the listing of local SMEs on the platform would boost sales of local SMEs and help them penetrate China and other foreign markets.

"We will monitor their performance and ensure that they gain from being listed on the platform," he added.

Mustapa also reiterated that Miti maintained its forecast of 5% growth in trade for 2017 amid global uncertainty that may persist in the second half of the year.

Touted as the largest Asean halal trade and Consumer Expo, HALFEST ASEAN 2017 kicked off on Aug 23 and will end on Aug 27 at the MINES International Exhibition and Convention Centre. - Bernama
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Gamuda posts higher Q3 earnings
Xin Hwa reprimanded, two directors fined RM150,000
EcoWorld Malaysia registers strong sales, higher earnings in Q2�
Ekuinas records strong investment returns for 2020
FBM KLCI closes at year's low
China says it will take necessary measures to safeguard Chinese firms' interests
Astro signs Netflix as new streaming partner
Boustead's three-pronged strategy to reinvent itself
Oil gains as draw in U.S. crude stocks reinforces outlook for robust demand
Singapore files 105 new charges against oil trader Hin Leong founder O.K. Lim

Stories You'll Enjoy


Vouchers