He said traders needed to have the three DNAs of successful rural entrepreneurship.

They are innovation and creativity, ability to maximise the use of new and digital technologies in business as well as increasing competitiveness in the face of the new economic landscape.

“Whether we realise it or not, the new economic landscape that is highly digitalised has opened up the possibility for us to be more competitive and to conquer new and unexplored markets,” said Najib at the launch of the Rural Entrepre­neurs Carnival (KUD) 2017 at Putra World Trade Centre yesterday.

He added that Government initiatives, such as the Digital Free Trade Zone (DFTZ), were meant to help local small and medium enterprises (SMEs) to compete within and conquer the global market.

Najib launched the DFTZ in March. It is an e-hub set up together with the Alibaba Group and the Ma­­laysia Digital Economy Corpo­ration (MDEC).

The DFTZ is the first outside of China and is meant to allow SMEs and the younger generation more access to global markets by lowering trade barrier.

“Through this initiative, 1,500 SMEs will be listed on the e-commerce platform Alibaba.com, so rural entrepreneurs should seize this chance to become global players,” said Najib yesterday.

He said local SMEs, especially rural ones, should also build partnerships with international hypermarkets, which have presence all over the world.

“One of the things I always say is that if we want to succeed as an entrepreneur, we need to have a place in the global supply chain,” he said.

Being a supplier for international hypermarkets, he added, allowed for local SMEs to export their pro­ducts to new markets around the world.

“For example, being a supplier for hypermarkets which have chains in the Middle East will allow local SMEs to export halal products to countries in the region,” he said.

He added that if local SMEs could prove that their products were of a high quality, they could also convince hypermarkets to place their products in prominent displays in the stores.

“If the products can be placed at an eye-level (for the customers), that is the best,” he said as an example.

Najib also said that in the 2018 Budget, the Government will place more importance on the growth of local SMEs.

KUD 2017 will run till tomorrow.

Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said this year’s carnival targets are RM3mil in sales and RM10.5mil in orders.

- The Star -