THE Penang government has embarked on a digital transformation journey to revolutionise the state’s trade landscape.
Manufacturers, factories, logistics companies, small and medium-sized enterprises and many more can now ride on the Penang Smart Trade Facilitation Platform to increase their business opportunities and enhance trade links.
The Memorandum of Understanding (MoU) between the Penang government and leading multi award-winning data technology specialist, Fusionex, enables key industry players and SMEs in the state to capitalise on the growing eCommerce industry.
Fusionex founder and Group chief executive officer Datuk Seri Ivan Teh said the Penang Smart Trade Facilitation Platform could help businesses in Penang to increase cross border trade.
“Businesses are looking at how can they increase their exports and market access. We are very excited to work with the Penang government to identify these players or local champions and connecting them to the rest of the world.
“We want to make Penang the hub for trade facilitation for the northern region and Southern Thailand,” he told a press conference after the MoU signing ceremony at St Giles The Wembley Hotel in Magazine Road today.
Teh said interested companies and businesses could engage with Fusionex to ride on the Penang Smart Trade Facilitation Platform.
“The entire procedure will require a profiling process for us to understand the client’s strength, products, volume and capacity. We will need to profile the interested companies to know what they are looking for.
“Are they looking at a certain market? What are their challenges? Some may have problems in financing while some may have problems accessing to technologies.
“Those who have problems accessing to technologies would not spend millions of ringgit to set up a platform, hence, they can use the Penang Smart Trade Facilitation Platform in a cost effective way.
“Other businesses may need advices in terms of how they can increase their market share or access to new clients overseas,” he said, adding that Penang was the second hub in Malaysia to launch the smart trade facilitation platform. The first was Klang Valley.
Teh said that eCommerce was blooming.
“eCommerce is growing by 200% in the world. But in Southeast Asia, it is growing by 800%. Penang is well-positioned to capitalise the growth of this industry in terms of exports and transshipments,” he added.
Penang Domestic and International Trade, Consumer Affairs and Entrepreneurship Development Committee chairman Datuk Abdul Halim Hussain said the Penang Smart Trade Facilitation Platform, powered by Fusionex’s intelligent logistics software and technologies, would be launched in phases for a period of five years.
“In this current economic climate, delivery speed, transparency, and cost efficiency are so important for a trading hub. That would draw in investors to Penang,” he said.
Chief Minister Chow Kon Yeow said the Penang Smart Trade Facilitation Platform is a digital platform for SMEs to have the opportunity to grow and penetrate the international market.
“It facilitates logistics, finances and monitors transactions in real time, besides being a platform for the supplier, manufacturer and consumer.
“It will allow those who subscribed to the platform to monitor their products and the time needed for the products to reach their destination,” Chow said.
He said that businesses and governments must respond and take a more proactive approach to meet consumer demands.
“The Penang Smart Trade Facilitation Platform can potentially spur economic growth, hence, taking Penang to greater heights,” he added.
Also present were Penang Tourism Development, Arts, Culture and Heritage Committee chairman Yeoh Soon Hin, state Secretary Datuk Seri Farizan Darus, state Financial Officer Datuk Sarul Bahiyah Abu, Malaysia Digital Economy Corporation (MDEC) chief operating officer Datuk Ng Wan Peng and Fusionex enterprise and public sector managing director Chua Yu Ye.
Story by Christopher Tan
Pix by Darwina Mohd Daud
Video by Chan Kok Kuan