Latest news with #BuyMalaysianGoodsCampaign
The Sun
11 hours ago
- Business
- The Sun
Malaysia's distributive trade hits RM1.766 trillion in 2024
ISKANDAR PUTERI: The sales value of Malaysia's distributive trade sector rose to RM1.766 trillion in 2024, up from RM1.674 trillion in 2023, marking a 5.5 per cent increase. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali attributed the growth to the sector's strong post-pandemic recovery, creating more opportunities for local products. Speaking at the launch of the Buy Malaysian Goods Campaign (KBBM) and the southern zone Jelajah Karnival KPDN 2025, Armizan highlighted the campaign's role in promoting domestic economic growth. The event, held at Puteri Harbour Convention Centre, saw attendance from Deputy Minister Datuk Dr Fuziah Salleh, Johor Menteri Besar Datuk Onn Hafiz Ghazi, and state committee chairman Lee Ting Han. Johor was chosen as the starting point for the carnival, which runs until June 29, following last year's success with 761,659 visitors. The tour will expand to five other zones, including Kedah, Pahang, Selangor, Sabah, and Sarawak, featuring consumer advocacy programmes and local product promotions. Armizan noted that KBBM 2025 aims to support micro, small, and medium enterprises (MSMEs) in expanding their market reach. The campaign has already generated over RM347 million in sales in 2023 and 2024, with nearly 700,000 products sold via TikTok, Shopee, and Lazada. He emphasised a whole-of-nation approach, involving ministries, agencies, and private sector collaboration. The Local to Global Retail programme will further enhance the global presence of Malaysian products. 'The Jom Beli Lokal campaign is a long-term policy to strengthen economic security,' Armizan said. 'With RM1.766 trillion in trade, we want more local products in the market.'
Barnama
11 hours ago
- Business
- Barnama
Sales Value Of Malaysia's Distributive Trade Sector Increased To RM1.766 Trillion In 2024
ISKANDAR PUTERI, June 27 (Bernama) -- The sales value of Malaysia's distributive trade sector increased to RM1.766 trillion in 2024, compared to RM1.674 trillion in the previous year, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali. He said the 5.5 per cent increase reflected the encouraging performance of the domestic distribution sector, which remained sustainable post-pandemic, thus opening up wider space for local products to penetrate the market more aggressively. "We see this increase in sales value as a positive momentum. It provides an opportunity for us to mainstream local products in this large wholesale and retail trade sector," he told a press conference after opening the southern zone 'Jelajah Karnival KPDN 2025' and the launch of the Buy Malaysian Goods Campaign (KBBM) at the Puteri Harbour Convention centre here today. Also present were Deputy Minister of KPDN Datuk Dr Fuziah Salleh, Johor Menteri Besar Datuk Onn Hafiz Ghazi, and the chairman of the state Investment, Trade, Consumer Affairs and Human Resources Committee Lee Ting Han. This year, Johor was selected as the opening location for the 'southern zone 'Jelajah Karnival KPDN 2025, which will run for three days until June 29, taking into account the encouraging response in 2024, which recorded a total of 761,659 visitors. The tour series will then proceed to five other zones, namely the Northern Zone (Kedah), Eastern Zone (Pahang), Central Zone (Selangor), Sabah Zone and Sarawak Zone, with various consumer advocacy programmes, local product promotions, and exhibitions by government agencies. Armizan said KBBM 2025 is a strategic initiative to stimulate domestic economic growth and assist micro, small, and medium enterprises in expanding their market reach both locally and internationally. 'This campaign provides a platform to showcase the quality of local products as the preferred choice, thus reducing dependence on imported goods,' he said. He said that KPDN also recorded a sales value of more than RM347 million through KBBM in 2023 and 2024, involving almost 700,000 Stock Keeping Units (SKUs) through three major e-commerce platforms, namely TikTok, Shopee and Lazada.
The Star
11 hours ago
- Business
- The Star
Distributive trade sector recorded RM1.76 trillion in sales last year, says Armizan
JOHOR BARU: The distributive trade sector recorded RM1.76 trillion in sales last year, says Datuk Armizan Mohd Ali. The Domestic Trade and Cost of Living Minister said that the figure was an increase of more than 5% compared to the RM1.67 trillion recorded in 2023. "With such strong figures, we should focus on leveraging this growth to promote local products, enabling them to benefit from the expansion of the sector," he said. He said that among the initiatives that have contributed to the encouraging trend is the Buy Malaysian Goods Campaign, which aims to boost sales of local products, especially from micro, small and medium enterprises (MSMEs). He said the campaign has contributed some RM347mil in sales over the last two years through e-commerce platforms. "We are also utilising e-commerce platforms to promote local products in collaboration with various parties, including e-commerce operators such as Lazada, TikTok and Shopee. "For example, the sales of local products reached RM347mil in 2023 and 2024 through the Buy Malaysian campaign, which shows great potential,' he said. Armizan added that Deputy Prime Minister Datuk Seri Fadillah Yusof will announce a coordination meeting next week to bring together various agencies and ministries involved in the campaign. "The campaign is driven by multiple ministries and agencies, each with its own approach, so coordination is crucial," he said, urging the private sector and non-governmental organisations to play a role in promoting and prioritising high-quality local products that contribute to the national economy. He added that beyond domestic efforts, the ministry is also pushing for global market penetration through the Local to Global Retail initiative. "This is one of the ways we aim to enhance our products' competitiveness and visibility in international markets. "We will intensify these efforts for the benefit of the people, local entrepreneurs, and the nation as a whole,' he said.
The Star
13 hours ago
- Business
- The Star
Johor poised to lead in implementing upgraded eCOSS system
JOHOR BARU: Johor may become the first state to fully implement the upgraded Cooking Oil Price Stabilisation Scheme (eCOSS) system, according to Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali. The system is currently being expanded in stages to include consumer-level tracking, ensuring that subsidised packet cooking oil reaches its intended recipients. "Last year, we launched the eCOSS system, which records the distribution of subsidised cooking oil from manufacturers to retailers. However, it does not capture who buys the oil at the consumer level. So while we can trace it up to the retail level, leakages can still happen," Armizan said at a press conference following the launch of the Buy Malaysian Goods Campaign. The upgraded system includes a feature to monitor purchases at the consumer level, being piloted through Jualan Rahmah programmes nationwide. "We have already upgraded the system to include that capability, but to ensure that it functions smoothly and doesn't spark complaints from users, we will roll it out in phases. "We started doing this around three or four months ago through several Jualan Rahmah programmes, where buyers must download the eCOSS app and scan a QR code when purchasing the subsidised oil. "Earlier, I offered Johor to be the first state to fully implement the upgraded system, and it was met with a positive response, but before we roll this across the state, we must ensure that the system is stable," he said. Armizan emphasised that the extension of the system does not mean the government is reducing subsidies or changing the existing monthly quota. "I want to make it clear that if we decide to implement the system fully, it does not mean we are cutting subsidies. The quota remains the same. "What we are doing is strengthening risk management to ensure that the subsidised oil is not misused or sold to unauthorised parties, especially non-citizens," he added. Earlier in his speech, Armizan offered Johor to be the first state to fully implement the eCOSS system. Johor Mentri Besar Datuk Onn Hafiz Ghazi, who was also at the event, later expressed his willingness to be the pilot for the initiative in his speech.
