Chinese e-commerce giant Alibaba Group unveiled an ambitious venture in Malaysia on Wednesday, including setting up a regional distribution hub in the country.
Chinese and Malaysian business leaders, bankers, government ministers, and senior managers from Alibaba and China’s largest 16 logistics firms gathered at the launching ceremony in Kuala Lumpur.
Malaysian Prime Minister Najib Razak and Alibaba Group Founder and Executive Chairman Ma Yun (Jack Ma) jointly announced the official launch of the first Digital Free Trade Hub outside China, just over four months after the two of them discussed the idea for the first time in Beijing.
The Digital Free Trade Zone aims to boost small and medium enterprises and e-commerce in Malaysia. Meanwhile, Alibaba will create a regional distribution hub here, which will be run by its Singapore-based subsidiary Lazada.
"This is the perfect project that a globalization company like Alibaba and a country with great vision and great leadership that we make this thing happen in four months and of course this is only a beginning,” said Ma Yun.
Alibaba will also assist Malaysia to develop an e-services platform for the digital free trade zone. The Malaysian prime minister said the combined initiatives should generate tens of billions of dollars’ worth of businesses by 2025.
"These are very very exciting things and I want to assure you that I will drive this personally. We will make this happen. This is our commitment to you when we shook hands in Beijing on November 4. I mean business. I mean to make this happen and we will make this happen,” said Najib Razak, Prime Minister of Malaysia.
So far neither Malaysia nor Alibaba has divulged estimates of the investment amount.
But what is clear is that convincing Alibaba to set up its regional hub here, and to assist Malaysia to develop its e-commerce sector is a huge coup for this country and its prime minister.
More on: [ Ссылка ]
Subscribe us on Youtube: [ Ссылка ]
CCTV+ official website: [ Ссылка ]
LinkedIn: [ Ссылка ]
Facebook: [ Ссылка ]
Twitter: [ Ссылка ]
