The Malaysian Vape Chamber of Commerce (DPVM) insists that the electronic cigarette industry can make a valuable contribution to the national economy in addition to creating more job opportunities for the people.
Its Secretary General, Ridhwan Rosli said, it was proven by the recent increase in the value of the vape industry which was 9.6 percent to RM2.49 billion compared to RM2.27 billion in 2019.
Therefore, he said, in terms of employment opportunities, the DPVM estimates that 31,500 workers are directly or indirectly involved in the vape industry.
“This discovery is a clear indication of the strong potential and resilience of the industry despite being affected by the pandemic.
“Besides creating more job opportunities for many Malaysians, the vape industry has also grown to strengthen the ecosystem of small and medium enterprises (SMEs) and attract more investment.
“Therefore, this industry is poised to contribute huge revenue to the country, with economic analysts estimating that the government could collect up to RM1 billion in excise tax revenue once the regulations begin as well as give confidence to investors to pour in more domestic and foreign investment,” he said in a statement. .
Ridhwan added that he also estimated the number of vape users in Malaysia to increase to 1.5 million users.
He said, through preliminary data, it follows the increase in sales of vape products in the market.
“So, this adds to the need for regulation immediately to ensure that vaping users have access to products that are regulated with quality and safety standards,” he said.
He also informed that the number of vape shops has decreased from 3,000 to 2,250 possibly due to the pandemic situation in the past few years which resulted in many operators going out of business.
“But at the same time, the findings also show that the industry has expanded its sales channels with vape products now also being sold in general retail stores.
“Based on DPVM’s findings, there are about 7,500 general retail stores that also sell vape products,” he said.
