JACK MA IN MALAYSIA FOR DIGITAL PUSH-WORTHY NOTES ON Digital Free Trade Zone (DFTZ) #DAMARU

JACK MA IN MALAYSIA FOR DIGITAL PUSH

DNEX (4456)

one have to imagined that this USD$50 billion or at least initial $10 billion from all e-trades permits approvals generate from DFTZ/Alibaba when start in 2018 or early 2019 is COMPULSORY/MUST pass tru DNEX (4456) e-services software platform tat currently been authorized by Gov to integrates with most gov agencies to get each items/goods pass on from shippers to consumers. Just 1 segment from IT can rake up 1000% folds profits, haven't count others segments like O&G, Hydro Energy, Foreign Workers Permit, VEP and RFID profits. 

On March 22, Prime Minister Datuk Seri Najib Tun Razak officially launched the Digital Free Trade Zone (DFTZ), the first e-hub in the world that is established together with the Alibaba Group and the Malaysia Digital Economy Corporation (MDEC). The launch was done at the second Global Transformation Forum hosted by the Malaysian government.

Present at the event was founder of Alibaba, Jack Ma, together with many e-commerce representatives gearing up to hear about the future of Internet Economy.

You’ve probably come across many headlines detailing the launch of this e-hub but many still remain confused on why it’s considered such a big deal. We break it down to you to understand the big step taken by our country in an effort to spearhead Malaysia towards a more innovative economic future.

Who?

First up, let’s talk about who exactly is involved in this.

This project was first announced in Budget 2017 by our Prime Minister. The government allocated RM 162 million to implement programmes in alignment to the country’s goal of making 2017 the year of the Internet Economy. Examples of the programmes include the Digital Maker Movement and the Malaysia Digital Hub.

To further this vision, Najib brought Jack Ma on board as Malaysia’s digital economy adviser in hopes of being closer to becoming a fully sustainable developed digital economy nation.

Memorandum of Understandings (MoUs) have also been inked between Alibaba affiliates and Malaysian entities to enhance DFTZ. Some of them include:

• Malaysia Airports Holdings Berhad (MAHB) will work with Cainiao Network, the logistics arm of e-commerce giant Alibaba Group to develop a regional e-commerce and logistics hub in the KLIA Aeropolis, the planned integrated airport city, as part of the DFTZ.
• Catcha Group is made the master developer of the Kuala Lumpur Internet City (KLIC). The KLIC will be a component of the DFTZ, which aims to house at least 1,000 Internet related firms.
• Maybank and CIMB will work with Ant Financial Services Group, Alibaba’s financial payments arm, to enable the Alipay mobile wallet in Malaysia.

What?

Now that you know the game players, time to understand what the game is about.

• The DFTZ is the world’s first special trade zone that will promote the growth of e-commerce by providing a state-of-the-art platform for SMEs and enterprises to conduct the businesses and services.
• This will be Alibaba’s first e-hub outside its home base in China. It’s meant to allow SMEs (small and medium enterprises) and “the younger generation” more access to global markets by lowering trade barriers.
• It’s part of Jack Ma’s plan to build an Electronic World Trade Platform (eWTP).
• It’s part of the National E-commerce Strategic Roadmap which aims to double Malaysia’s e-commerce growth from 10.8% to 20.8% by 2020.
• Malaysia plans to formulate an attractive package for the DFTZ to encourage more people to join the country’s e-commerce sector.
• Future plans include establishing  an “independent satellite support service” which will complement the DFTZ facility.

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Is it compulsory to have DagangNet services in Malaysia?
Yes, it is compulsory for local companies (the importers or exporters) who want to import/export goods into/from Malaysia, especially when the goods are subject for import/export permit. Otherwise, no import/export permit can be applied and no shipment clearance can be done by Customs Malaysia.

Dagang Net is an established e-commerce service provider in Malaysia authorized by most Malaysian government agencies like SIRIM, Custom Malaysia, MITI, etc. for import and export permit online processing (e-permit) and other related online business solutions in Malaysia.

....The Alibaba's e-hub with centralised customs clearance is expected to create top line gross merchandise sales of US$65bil by 2025 and this will 100% benefits Dnex as the sole eServices providers for gov....

25/03/2017 19:54

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Dnex's ePermitSTA is the permit application and approval system for sensitive trade items or dual use items including nuclear materials, sensors and telecommunications security under the purview of the Strategic Trade Act 2010 (STA 2010). 

What is Strategic Trade Act (STA) 
Strategic Trade Act 2010* [Act 708] (“the Act”), which came into effect on 1 January 2011 is the legislation that controls the export, trans-shipment, transit and brokering of strategic items, including arms and related material, as well as activities that will or may facilitate the design, development, production and delivery of weapons of mass destruction. This Act is consistent with Malaysia’s national security and international obligations. 

Dnex stands to 100% benefits for this... 
Export permit is the mandatory permit required for any strategic goods exported from Malaysia. It is an obligation for the exporter as stated in the STA 2010 Act. Otherwise, the exporters are subject to penalty of imprisonment and / or death sentence.

What kinds of products that are considered as strategic items/goods? 
Strategic items refer to goods and technology that are controlled under the STA 2010 Act. A definitive and comprehensive list of strategic items are prescribed in the Strategic Trade (Strategic Items) Order 2010. The Order reflects the items currently required to be controlled under the global export control regimes as well as the relevant United Nations Security Council Resolutions. The items are categorized as follows: