Budget 2016 SME initiatives in right path for e-commerce market growth

PETALING JAYA: Both private and government-linked companies welcomed the initiatives presented in the Budget 2016.
In a statement issued, online retailer 11street chief executive officer Hoseok Kim said they were pleased with the initiatives listed in Budget 2016 for the small and medium enterprises' (SME) development.
"We truly believe that the allocations provided will positively facilitate SMEs to improve their business value and serve to invigorate them into playing a key role of contributing 41% of Gross Domestic Product by 2020.
"The various allocations are certainly a step in the right direction to positively enhance, support and grow the Malaysian e-commerce market as the advancement of e-commerce in Malaysia will undoubtedly benefit market players, sellers and consumer alike," Kim said.
Meanwhile, Cyberview Sdn Bhd managing director Fariz Yahaya said that the establishment of Cyber City Centre and the construction of a new hospital in Cyberjaya is definitely a key factor in enhancing the quality of life as well as further completing the holistic eco-system to flourish the community development in Cyberjaya.
"The Cyberjaya community has been waiting for these infrastructure enhancements. We are committed to facilitate and provide the necessary support as well as work with the relevant agencies and authorities to ensure a successful delivery of these projects," Fariz said in a statement.
As for the allocations made to boost the ICT development and entrepreneurs in the country, Fariz said that they are certain that these initiatives will greatly encourage the growth of innovation enterprises in Cyberjaya in 2016 as it will eventually lead to an abundance of ICT solutions and market opportunities.