IPOH – Local entrepreneurs, especially small and medium enterprise (SME) owners need to master the digital economy which is a new power in the global economy, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said.
He said entrepreneurs should not only become observers, instead they should take advantage of the digital economy as a business opportunity.
“Digital economy is getting bigger in China and their shoppers are deserting the malls due to the growing digital economy.
“The payments are no longer using cash, credit cards and conventional banking system, instead using smartphone. The goods are ordered using smartphone, so this situation will come our way,” he said when opening the Mega Sale Carnival 2017 at Amanjaya Circle here yesterday.
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainuddin and Perak Menteri Besar Datuk Seri Dr Zambry Abd Kadir were present.
Ahmad Zahid said local entrepreneurs should be prepared to face the situation by capitalising on online business opportunities through the Digital Free Trade Zone (DFTZ) created by Prime Minister Datuk Seri Najib Tun Razak.
He said the DFTZ was a preparation to facilitate cross-border trade smoothly and enable local businesses to export their products by making e-commerce a priority.
This is the fourth industrial revolution that we cannot stop from happening and the digital economy is inevitable, so traders must accept the fact and take it as a new challenge,” he said.
On another note, Ahmad Zahid said collaboration between international and local companies was important as it would enable local products to be sold to multinational companies.
“They (international companies) and local vendors will profit from the cooperation, while our economy will grow rapidly,” he said.