The Malaysian Insight

CHINA’S growing economy and massive market can provide “huge opportunity” for growth with whoever it partners, said Alibaba’s founder Jack Ma.

Ma, who is in Malaysia to officiate the tech giant’s Kuala Lumpur office – its first in Southeast Asian, said Malaysian businesses and entrepreneurs will stand to gain if they can tap into China’s market potential.

“Eight years ago, China has fewer than 80,000 packages on the street. This year, China will create more than 50 billion packages,” he said, referring to delivery of online orders to Chinese consumers.

“So, China alone is bigger than the whole industry.”

Ma said while all joint business ventures would experience hiccups, both Beijing and Putrajaya will see the economic benefits of resolving their disagreements.

“I would like to say China is a huge opportunity for everyone in the world.

“In a business, how can you not have cut outs and issues?

“But when you solve these fights and issues, then there is opportunity for everybody in the world.”

Last year, Ma and the Malaysian government under former prime minister Najib Razak inked a deal to launch the electronic world trade platform hub, which is part of Ma’s idea for a digital free trade zone, aimed at growing small and medium enterprises, and emerging businesses through online platforms and e-commerce.

After Najib’s Barisan Nasional government was toppled by Pakatan Harapan in the May 9 elections, fears that the project could be reviewed were sparked when new Prime Minister Dr Mahathir Mohamad immediately announced a review of all major Chinese-related joint development contracts which were not beneficial to the country.

However, Dr Mahathir clarified that Ma’s project with Putajaya would go ahead as planned.

Ma said today that Alibaba will be a platform for Malaysian small business entrepreneurs, adding that the company will be running a week-long promotion on Malaysian products and services to support the growth of the e-commerce market in Malaysia.

“Next month, July 6, we are going to launch the Malaysia Week. This is the first time we spend one week to promote one country,” he said.

“We want every Chinese consumer to understand more about Malaysian products.

“Not only the durian or fruits, but also Malaysian movies, Malaysian TV and Malaysian culture,” he said at the new office.

Ma said he was a strong supporter of globalisation, but that the system needs to be improved further by stopping the monopoly of major business players.

“Globalisation needs to be improved. In the past 30 years, the global trade was controlled by 6,000 big companies.

“If we can (instead) support 60 million small businesses around the world, they can do business, that is called inclusive globalisation and that is the future of the global economy.

“So we come here to serve the small businesses and their future. It is our opportunity and responsibility.” – June 18, 2018.