M’sian Govt Wants To Build An E-Commerce Platform To Compete With Lazada, Shopee, And Alibaba

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Looks like the government wants a piece of that e-commerce pie as the Ministry of Entrepreneur Development and Cooperatives (MEDAC) looks to set up a platform to rival more established names.

Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said that the platform is looking to fight it out with the big boys as it would be taking on the likes of Lazada, Shopee and Alibaba.

According to JP Morgan, Malaysia’s e-commerce market is valued at USD4 billion (RM16.5 billion) with an internet penetration rate of 80.1%.

Picture Credit: JP Morgan

People are now switching from buying goods offline to online with the spread of Covid-19 as these e-commerce platforms saw an increase in sales.

It’s expected that this segment will grow by 20% this year and contribute around RM170 billion to the country’s gross domestic product (GDP) for 2020.

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