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BUSINESS • 23/10/2024 02:51 PM

Malaysia's Courier Market Expected To Hit US$1.58 Bln In 2025 - Teo

KUALA LANGAT, Oct 23 (Bernama) -- Malaysia’s courier, express, and parcel market is expected to reach US$1.58 billion (US$1=RM4.32) next year, driven by rising e-commerce demand and infrastructure improvements, said Deputy Communication Minister Teo Nie Ching. 

Following this, Teo urged local companies in the sectors to seize the opportunity to further develop their businesses and make use of the policies and initiatives announced by the government.

She said the courier industry is a critical pillar of the Malaysian economy, enabling e-commerce and supporting small businesses, generating RM5.7 billion in revenue and creating over 200,000 jobs in 2023.

“Malaysia’s aggressive digital transformation policy has caught the eyes of global investors from the technological space.

“The country has secured investments totalling US$16.9 billion for the period of up to 2038 from global technology giants such as Amazon Web Services, Microsoft, Google and Oracle,” she said in her speech during the City-Link Express Sustainable Greener Last-Mile Delivery event here today.

In addition, Teo remarked that Malaysia has taken a bold step in championing the regional digital economy through the declaration of the establishment of the ASEAN artificial intelligence (AI) safety network to mobilise AI expertise and security in the region.

“To enhance micro, small and medium enterprises’ (MSMEs) business capacity by embracing digitalisation, RM50 million is allocated as the digital matching grant for SMEs and the digital grant for vendors under Bank Simpanan Nasional to help local entrepreneurs remain competitive in the market,” she said.

Teo also said the Malaysian Communications and Multimedia Commission has allocated RM100 million for a period of five years to strengthen the functions of National Information Dissemination Centres to assist individual entrepreneurs in increasing their incomes through online entrepreneurial activities.

“The government also plans to implement a multi-tiered levy mechanism from Jan 1, 2025, to reduce foreign worker dependency.

“The proceeds from the levy will be channelled back to the industry to engineer business processes towards automation and mechanisation,” she added.

As for the event, courier company City-Link Express (M) Sdn Bhd has entered into a partnership with Weststar Maxus Sdn Bhd to enhance its delivery service capabilities through electric vehicles (EVs). 

Under this partnership, City-Link Express will utilise three EVs from Weststar Maxus to achieve sustainable and greener last-mile delivery, demonstrating a strong commitment to environmentally friendly practices.

-- BERNAMA

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