Those who missed the memo, Malaysian Prime Minister, Datuk Seri Najib Tun Razak, launched the digital free trade zone project in Association with Alibaba Group and the Malaysia Digital Economy Corporation (MDEC). The digital free trade zone agreement will serve as the first and only e-hub in the world that combines two giant names in the e-commerce industry—The ALibaba Group and MDEC.
On March 22, The DFTZ was launched with host services from the Malaysian Government. The project has 162 million budget attached to it with the aim to implement programs that are directly related to internet economy; the project has the sole purpose of contributing towards Malaysia’s growing internet businesses. In fact, it would not be wrong to say that the DFTZ will serve as the stepping stone in helping Malaysian internet business escalate and touch new, bigger and better, heights, to catch up with the rest of the world.
When it comes to digital transformation and internet technologies, it is crucial that Malaysia builds solid ties with alliances to increase support for e-commerce and progression of internet technologies. Here’s what DFTZ is all about:
Substantial economic development and progress is only possible through reduced trade barriers and accessibility to funds that are otherwise impossible to garner. With agreements and projects like DFTZ, Malaysia has taken a big leap ahead to ensure that its economy stands a perfect chance at developing tremendous growth that essentially fulfill its goals to become one of the most economically strong nations in the world.
DFTZ is for the economical development and progress that will pave the way for increased job opportunities, enhanced opportunities for internet business around the company, and better economic value for a better future.
This project fills the gaps that hindered the country’s progress in the past through a lit torch that shines the way forward.