Malaysia's wholesale and retail sector (hereafter shortened to retail) is a significant contributor to GNI. It contributed about RM57 billion to GNI in 2009 and also contributed around 500,000 jobs. To achieve our 2020 GNI target, retail will be a key driver of domestic consumption, which in turn will lead to economic growth.
In recent years, retail seems to have gone into a decline. For instance, AT Kearney's Global Retail Development Index places the Malaysian retail sector in 17th position among 30 emerging economies in 2010, down from 10th in 2009 and 8th in 2008.
|1.0||Wholesale and Retail - EPP 1: Increasing number of large format stores||8,514.20||68,574||Nationwide ||Work In Progress |
|2.0||Wholesale and Retail - EPP 2: Modernising via the Small Retailer Transformation Programme (TUKAR)||5,577||51,544||Nationwide ||Work In Progress |
|3.0||Wholesale and Retail - EPP 3: Developing Pasar Komuniti||8,827.60||140,947|| || |
|4.0||Wholesale and Retail - EPP 4: Transforming Automotive Workshops (ATOM)||1,139.10||9,117||Nationwide ||Work In Progress |
|5.0||Wholesale and Retail - EPP 5: Developing Makan Bazaar||226.5||4,205||Johor ||Operational |
|6.0||Wholesale and Retail - EPP 6: Developing 1Malaysia malls||2,226.80||3,777||International ||Work In Progress |
|7.0||Wholesale and Retail - EPP 7: Developing a virtual mall||823||6,629||Kuala Lumpur ||Work In Progress |
|8.0||Wholesale and Retail - EPP 8: Facilitating local businesses to acquire stakes in foreign retail businesses||1,031||415||International ||Work In Progress |
|9.0||Wholesale and Retail - EPP 9: Making Malaysia duty free||3,258.3||31,145||Nationwide ||Operational |
|10.0||Wholesale and Retail - EPP 10: Setting up wellness resorts||2,674.9||21,545||Kuala Lumpur ||Commenced |
|11.0||Wholesale and Retail - EPP 11: Organising unified Malaysia sales||1,776.9||14,312||Nationwide ||Commenced |
|12.0||Wholesale and Retail - EPP 12: Transforming KLIA into a retail hub||958.2||7,716||Selangor ||Work In Progress |
|13.0||Wholesale and Retail - EPP 13: Developing big box boulevards||1,222.50||9,609||Nationwide ||Not Started |
Business opportunities and baseline growth are expected to contribute RM45.2 billion to GNI, and create around 226,000 additional jobs. This growth will be driven by three distinct economic drivers.
The first is higher retail expenditure per capita due to increased GNI per household by 2020. Secondly, urbanisation will also contribute, as the migration from rural to urban areas creates higher demand for goods and services, including higher value-added products. Lastly, population increase will also result in demand for more goods and services.
RM187.6 billion of private sector funding and investments will be required to capitalise on the business opportunities.