SEPANG: The Government should focus more on small companies as they have a greater potential to grow the economy, says Jack Ma.
The Alibaba Group founder and executive chairman said that it was “impossible” for big firms to double the size, adding: “But it is simple for small businesses to double their size.”
Ma said this at the live chat session with Prime Minister Datuk Seri Najib Tun Razak at the Digital Free Trade Zone (DFTZ) Goes Live ceremony here.
The world-renowned e-commerce entrepreneur said that when there were sufficient small businesses, this would ensure the middle class continued to grow.
This, in turn, would ensure the economy would be sustainable.
“The Government should make sure resources for small businesses are in place,” he said.
Ma also spoke about his own experience when he set up Alibaba Group, which has now grown into a giant e-commerce entity.
He said that when he started his company, he could have focused on five huge corporations.
Instead, he chose to focus on small businesses, noting that there would be risks if one of the corporations faced problems.
“Small is beautiful and small is powerful,” he said, adding that a similar model sat well with countries like China and Malaysia.
In his speech earlier, Ma said DFTZ would not only benefit small businesses and young entrepreneurs in Malaysia but those from all over Asia.
“With DFTZ, small businesses can use the digital way to sell and buy things. They can also buy global and sell global,” he said.
He said Alibaba Group was committed to helping small businesses and young people across the region.
Ma also said many leaders promised to help small businesses but that Najib was the one who walked the talk and made the DFTZ a reality in a short time.
“I have heard many prime ministers saying they wanted to do something to help small businesses but not all had done so,” he said.
The Chinese business magnate said he was amazed by Najib’s leadership, vision, and determination in turning the DFTZ into a reality.
“The Malaysian Government has taken away all the barriers to making this happen,” he said.
Earlier, together with Najib, Ma launched the KLIA Aeropolis DFTZ Park, Alibaba’s first regional eFulfillment hub outside of China.
Malaysia will be a regional hub that will be part of the Electronic World Trade Platform (eWTP), connected to the upcoming regional hubs, in other continents.
The eFulfillment hub at KLIA Aeropolis DFTZ Park is expected to double the growth in Malaysia’s air cargo volume from the current level of about 700,000 tonnes a year to 1.3 million tonnes a year within 10 years.