With the fast pace of e-commerce growth, digital economy would contribute to an increase of around 1.4% to gross domestic droduct (GDP).
“With the excellent logistics infrastructure to facilitate trade by 2020, the e-commerce sector is expected to grow by up to RM114 billion.
“This is in line with our aspiration to become the leading Asean logistics hub and the preferred logistics gateway to Asia,” he said at the 56th International Federation of Freight Forwarders (FIATA) World Congress in Kuala Lumpur on Thursday.
Liow stressed that with the presence of world class infrastructure such as the Digital Free Trade Zone, the KLIA Aeropolis, new sea ports and rail connectivity, it would undoubtedly be a significant catalyst to the logistics industry.
Capitalising on the e-commerce boom, the new KLIA Aeropolis is focused on increasing its cargo and logistic traffic as top world freight forwarders would be operating from there.
“It will be our gateway to South-East Asia with 1,250 flights weekly,” he said, adding that Malaysia aimed to increase its cargo volume from 726,000 to 3 million tonnes by 2050.
Upon completion of the DFTZ by 2025, the e-commerce hub was anticipated to handle goods worth more than RM280.8 billion in the Asean region.
“With the holistic logistics ecosystem, it is expected that goods can be delivered to Asean countries within 72 hours,” he said.
KLIA Aeropolis, built on 404.7ha surrounding KLIA and launched last year was expected to attract about RM7 billion in foreign and domestic investments.
Meanwhile, FIATA president Zhou Huxiang said Malaysia was now one of the critical logistics hub in the Asean region.
“Malaysia has managed to diversify its economy and recover quickly from the global financial crisis.
"It is now attracting investments from international logistics and e-commerce enterprises,” he said.
The five-day conference themed, “Logistics Bringing Global Trade”, attracted more than 1,500 participants from 77 countries. - Bernama