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APEC 2020 aspires to use cashless payment

Last update: 21/03/2019
By Aishah Mohmad Afandi and Rosemarie Khoo Mohd Sani

KUALA LUMPUR, March 21 (Bernama) -- The Asia Pacific Economic Cooperation (APEC) Leaders’ Summit 2020, which will be hosted by Malaysia, aspires to introduce the use of cashless payments (e-wallet).

International Trade and Industry Minister Datuk Ignatius Darell Leiking said as the national secretariat of the summit, the ministry has identified local partners to collaborate on the use of the e-wallet.

“We want to ensure that all security measures are in place and so far, the e-wallet provider has given its assurance on the matter,” he told Bernama in an exclusive interview on the APEC 2020 preparations.

Darrell said e-wallet technologies would be among the items that would be showcased during the summit which would be held in various cities in the country.

“For this summit, the broad areas that Malaysia is currently focusing in are inclusivity, sustainability, digital economy and regional economic integration,” he said.

He said the summit would also allow delegates, as well as tourists to discover the beauty of Malaysia and its variety of destinations, cultures and traditions.

“About 16,000 delegates from 21 economies will be in Malaysia in addition to a larger number of tourists. Consequently, the hospitality and tourism industries, including small medium enterprises are set to benefit directly,” he said.

In the run-up to APEC 2020, Darell assured investors that Malaysia’s economic fundamentals are still solid, despite facing several hick-ups.

“Investors kept asking, ‘Why must they choose Malaysia as their investment destination’ and my answer is ‘Why not?’ It is true we lose some, but we gain some.

“What makes Malaysia unique in the business world is its economic fundamentals, infrastructure, as well as experienced labour force which qualifies us highly to be a business hub,” he said.

The data have shown that some companies that had left Malaysia are returning, so are Malaysian entrepreneurs abroad, he said, adding that, “This is a positive sign that Malaysia is a conducive place for business to grow further,” he said.


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