Ministry of Entrepreneur Development Secretary-General Datuk Wan Suraya Wan Mohd. Radzi (right) with Commerce.Asia Founder and Executive Chairman Ganesh Kumar Bangah.
The Ministry of Entrepreneur Development (MED) calls for greater public-private partnership participation to realise the objectives outlined within the National Entrepreneurship Framework (NEF).
Its Secretary-General Datuk Wan Suraya Wan Mohd Radzi says such partnerships are
an important element in nurturing the entrepreneurial spirit among Malaysian businesses asset out within the strategic objectives of the National Entrepreneurship Framework (NEF).
Wan Suraya noted that the NEF, which was launched in November 2018, charted the future direction of the entrepreneurship ecosystem in the country, and set the broad parameters for the eventual National Policy on Entrepreneurship, which was expected to be announced in the second half of this year.
“One of the NEF’s targets is for small-medium enterprises (SMEs) to contribute 41%
to Malaysia’s GDP by 2020,” she said, adding that current contribution stood at
“In addition, we also want to create one million jobs within five years, which will entail 50,000 entrepreneurs creating 200,000 job opportunities annually. We also aim to train 50,000vgraduates yearly in the entrepreneurial sector, ensure RM50 billion turnover by co-operatives by 2020, and increase SME contribution to exports from the present 17% to 23% by 2020.”
Wan Suraya said this after a meeting with Ganesh Kumar Bangah, Founder and Executive Chairman of Commerce.Asia. She also congratulated Commerce.Asia on their recent acquisition of PanPages Lab Sdn. Bhd. (‘Panpages Lab’) which owns the largest database of SMEs within Southeast Asia.
The latter’s database contains insights into seven million SMEs spanning across six countries – namely, Malaysia, Singapore, Thailand, Vietnam, Indonesia, the Philippines and Cambodia– which is being maintained by a team of data professionals, with information being constantly sought after by global search engines and map providers.
The acquisition of Panpages Lab allows Commerce.Asia to expand the reach of its enablers
to the entire region by mining Panpages Lab’s extensive database and using this data to
provide lead generation to Commerce.Asia’s current and future SME facing Enablers.
Ganesh Kumar explained, “this strategic acquisition gives us valuable insights into five key ASEAN countries, enabling us to have better understanding of the diverse ethnicity, customer-cum-business patterns and preferences, which we can use for today’s evolving online marketing and sales opportunities. This business purchase comes at an opportune time when eCommerce is growing multi-fold, with a whole paradigm shift towards online purchasing. The acquisition combined with our current portfolio of enablers will be a catalyst to increase the eCommerce penetration among SMEs across South East Asia.”
He concluded by pledging to continue supporting MED and the objectives outlined within the NEF.