The e-commerce sector in the country has yet to reach its full potential despite having grown significantly, said Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek.
He said the value of e-commerce was expected to grow to about RM72 billion by the end of this year from RM53 billion last year, and is expected to further increase to RM88 billion by next year.
He said as such, several initiatives would be taken to improve the workings of e-commerce at a fundamental level in order to accommodate its increasing popularity in Malaysia.
He said these include improving broadband connectivity, gaining consumers' trust in the system and addressing logistics issue.
"Right now, about 70% of Malaysian households have access to broadband.
"The government will continue to work with industry players to ensure that more people will enjoy widespread, affordable and quality broadband service, which will hopefully spur more online activities, including e-commerce," he said when launching the Logon Mobile Apps and Logon V2 at Sin Chew Daily headquarters in Petaling Jaya today.
Shabery added that a combination of education, awareness, and legal measures could allay consumers' fears with regard to keying in credit card information on a commercial website.
Quoting a recent study by AT Kearney, Shabery said that Malaysia had one of the most complete e-commerce laws in Asean, which covered electronic transactions, privacy, cyber crime and consumer protection.
He also emphasised the significant role of traditional couriers such as Poslaju in contributing to the success of trading in the digital age.
Shabery added that the ministry's e-Commerce Globalisation Initiative would also help to develop and enhance competitiveness of the local e-Marketplace players, as well as to expand their market in Asean.
Citing the same study by AT Kearney, he said that the online retail market in the Asean region had the potential to grow by as high as 25% annually.
Logon.my, managed by the Media Chinese International Limited, is an e-commerce platform that offers consumers to shop online for variety of products such as car parts, fashion, toys, reading materials, home appliances and pet food.
– Bernama, June 29, 2015.