By Danial Dzulkifly
KUALA LUMPUR, Nov 5 — Selangor's e-commerce sector generated nearly RM400 billion in transactions last year, further cementing the state's position as a key driver of Malaysia's digital economy, said state executive councillor for investment, trade, and mobility Ng Sze Han.
Speaking at the Selangor E-Commerce Xccelerator (ECX) 2024 Final Demo Day, he emphasised the growing importance of digital commerce initiatives and how it will continue to spur economic growth for the state and Malaysia.
"Programmes like ECX play a key role in supporting Selangor’s e-commerce growth, which has seen rapid expansion.
[caption id="attachment_378573" align="alignleft" width="452"]
State executive councillor for investment, trade, and mobility Ng Sze Han speaks to the audience of the Selangor E-Commerce Xccelerator 2024 programme during its final demo day at the Securities Commission headquarters in Kuala Lumpur, on November 5, 2024. — Picture by AHMAD ZAKKI JILAN/MEDIA SELANGOR[/caption]
"In 2023, e-commerce in Selangor accounted for nearly RM 400 billion in transactions, positioning the state as a vital driver of Malaysia’s digital economy.
"With the digital economy projected to contribute significantly to the national gross domestic product by 2025, initiatives like ECX are more important than ever," he said during the awards ceremony at the Securities Commission headquarters today.
The four-month accelerator programme, organised by the Selangor Information Technology and Digital Economy Corporation (Sidec), shortlisted 50 small and medium enterprises from various sectors including food and beverage, home living, fashion and lifestyle, and health and beauty.
Sidec chief executive Yong Kai Ping said the programme showcased Selangor's commitment to digital innovation.
"The ECX 2024 Final Demo Day exemplifies Selangor's dedication to supporting innovation in retail tech and digital commerce.
“These participants embody the resilience, creativity, and forward-thinking mindset needed to drive Malaysia's economy forward," he said.
Today’s programme named 10 winning ECX startups, as follows:
* Wellness Cosmetology Alliance Lab Sdn Bhd.
* Nasi Lemak Nale Sdn Bhd.
* Ominent Sdn Bhd.
* Eartheories Sdn Bhd.
* Gelatomio Production Sdn Bhd.
* Saudagaar Asia Sdn Bhd.
* Kimyra International Sdn Bhd.
* Natugee Sdn Bhd.
* MCCKT Ventures Sdn Bhd.
* Naza Beyond Ventures.
Winners received trophies, certificates, cash prizes, and an overseas business trip to ByteDance's headquarters in Shanghai, China, providing exposure to TikTok's global operations.
The ECX initiative, supported by Affin Bank, WORQ, TikTok Shop, AEON, Shopline, and Pos Malaysia, aims to nurture 5,000 digital-savvy entrepreneurs over the next five years.
