Latest news with #RM1.674
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.
