E-commerce has evolved over the years from electronic funds transfers (EFT), comprising of online shopping and Internet banking, to electronic data interchange (EDI), comprising companies' transfer of documents such as purchase orders or invoices. Recent studies foresee a massive growth of e-commerce in the Asian region especially in Malaysia, Singapore, Hong Kong, Korea and Australia; possibly challenging Europe and United States.
Malaysia was one of the pioneers amongst Asian countries to establish a new federal ministry, Ministry of Energy, Communications and Multimedia. The main function of this Ministry is to spearhead and promote the growth of information and communication technology (ICT) with the support of several agencies, including the Malaysian Institute of Microelectronic Systems (MIMOS) established in 1984, Multimedia Development Corporation (MDC) established in 1996, and Malaysian Communications and Multimedia Commission (or MCMC) established in 1998.
The future of e-commerce in Malaysia and the Asia region is bright. Governments and regulatory bodies are collaborating on a wider platform to ensure e-commerce law, policy and regulations are enforced to provide a guideline for traders to systematically utilize e-commerce and in tandem ensure protection for e-commerce users.
Dr. M Ghazie Ismail
Senior Vice President, Multimedia Development Corporation, Malaysia
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