Sunday 14 Jul 2024
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KUALA LUMPUR (Oct 21): Plans under Budget 2017 to develop an e-commerce eco system and a Digital Free Zone is expected to help improve the trade volume for the country, according to group managing director of Dagang NeXchange Bhd (DNex), Zainal Abidin Jali.

The projected economic growth of four to five percent in 2017 is expected to drive trade growth positively, Zainal said in a statement released today.

The trade eco-system in Malaysia runs on National Single Window (NSW) for Trade Facilitation, which is a Customs-related electronic transactions and duty payments and the transfer of electronic documents between members of the trading community.

The system is designed save time and cost, increase competitive edge, improve efficiency and ultimately improve the trading community’s bottom line, according to Zainal.

“It is heartening to note that Technological Readiness or ability to leverage on technology for increased efficiency and enabling innovation of competitiveness — one of 12 pillars of measurement in the Global Competitiveness Report — has improved from the 47th position in 2015-2016 to 43rd position in the recent 2016-2017 report,” added Zainal.

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