The courier industry in Malaysia is a critical pillar of the country’s economy as it enables e-commerce and supporting small businesses, generating RM5.7 billion in revenue and creates over 200,000 jobs in 2023.
Having that in mind, Deputy Communication Minister Teo Nie Ching urges local companies in the sectors to seize the opportunity to further develop their businesses and make use of the policies and initiatives announced by the government.
She noted that Malaysia’s courier, express and parcel market is expected to reach US$1.58 billion next year, driven by rising e-commerce demand and infrastructure improvements.
“Malaysia’s aggressive digital transformation policy has caught the eyes of global investors from the technological space.
“The country has secured investments totalling US$16.9 billion for the period of up to 2038 from global technology giants such as Amazon Web Services, Microsoft, Google and Oracle,” she said.
Teo added that Malaysia has taken a bold step in championing the regional digital economy through the declaration of the establishment of the ASEAN artificial intelligence (AI) safety network to mobilise AI expertise and security in the region.
“To enhance the business capacity of micro, small and medium-sized enterprises (MSMEs) by embracing digitalisation, RM50 million is allocated as the digital matching grant for SMEs and the digital grant for vendors under Bank Simpanan Nasional (BSN) to help local entrepreneurs remain competitive in the market,” he continued.
Teo also said the Malaysian Communications and Multimedia Commission (MCMC) has allocated RM100 million for a period of 5 years to strengthen the functions of National Information Dissemination Centres to assist individual entrepreneurs in increasing their incomes through online entrepreneurial activities.
Additionally, Teo revealed that the government also plans to implement a multi-tiered levy mechanism from 1 January 2025 to reduce foreign worker dependency.
The proceeds from the levy will be channeled back to the industry to engineer business processes towards automation and mechanisation.
Meanwhile, internationally, Technavio reported that the global courier pickup and delivery services market size is estimated to grow by US$78.09 billion from 2024 to 2028, while the global courier market size is estimated to grow by US$136.1 billion during the same period.
