Jack Ma wants no pay for advising Malaysia

Alibaba Group founder Jack Ma said he did not wish to be paid for his role as Malaysia's digital economy adviser.

Instead, he said it is an honour for him to be appointed as Malaysia's adviser and the greatest return for him would be for more people to follow in his footsteps.

"I don't know. I don't think so. I don't want that kind of pay," he told reporters, when asked if he is being paid for being Malaysia's adviser.

"I think it is my honour (to be the adviser). If more people start doing it (electronic commerce), that is the best return that I get.

"The money, to me, does nothing," he said during a press conference after delivering a speech at the Global Transformation Forum (GTF) in Kuala Lumpur today.

The Alibaba Group is the word's largest business-to-business e-commerce platform, estimated to be worth US$28.3 billion. Ma is ranked 23rd on the Forbes' 2017 list of billionaires.

Prime Minister Najib Abdul Razak had appointed Ma as an adviser to the Malaysian government on Nov 4 last year.

Asked what the job entails, Ma said he considered his one-hour talk at the GTF to be part of his work.

"I do think it is. I hope (at least) one sentence of my speech make people start to think. If ten people start to think differently, these people can make a difference for Malaysia," he said.

Making global trade more inclusive

He added that he held discussions with Malaysian ministers and civil servants about the need to encourage youths to use their mobile phones productively and the Electronic World Trade Platform (eWTP) initiative.

Ma said he would also visit Malaysia more often, as well as use every opportunity to meet Malaysian government officers visiting China.

In addition, he said, Najib has accepted his invitation for a tour of Alibaba, where he would show the prime minister how the company works.

The eWTP is part of Alibaba’s initiative aimed at making global trade more inclusive. As part of the initiative, the company would set up its first e-hub outside of China in Malaysia, in the newly launched Digital Free Trade Zone (DFTZ).

The DFTZ was launched in Kuala Lumpur yesterday. According to the Malaysia Digital Economy Corporation (MDEC), the DFTZ would facilitate small and medium enterprises in taking advantage of the growth of the internet economy and cross-border e-commerce activities.

The government has earmarked 500,000 square feet at Bandar Malaysia for the physical portion of DFTZ. In addition, an e-fulfillment hub would be set up near the Kuala Lumpur International Airport, among other initiatives.

'Monetary investment is so last century'

Asked whether Alibaba has earmarked funds for its DTFZ investment, Ma dismissed such notion as an outdated way of thinking about investment.

Instead, he said Alibaba focuses on investment of commitment, technology and talent.

"Let's change the concept of investment. Monetary investment - how large is it - is more like last century's concept. It is real estate, real assets...

"Of course a real estate company from China can bring a lot of money to Malaysia, and this is what Malaysia needs. But what Malaysia (also) needs is technology, the way people think, and the way people do business.

"Connecting Malaysia with China is a huge investment. We are not only working here; we have to work with the China government to open more doors for Malaysian products, for young people, and open doors for other countries.

"We are preparing a big fund for eWTP, but for specific numbers, we will go one-by-one. It's not like money solves the problem," he said.

Empowering local businesses

For example at yesterday's DFTZ launch, he said, he had brought along 16 owners of logistics company - who together contribute nearly 43 percent of global deliveries - and they are excited about the opportunities in the country.

Hence, Alibaba is not only bringing money to Malaysia, but also partners, knowledge, and technology, he said.

He added that Alibaba is seeking to empower local partners in Malaysia rather than own businesses here.

Hence, it would hire Malaysians and have them work in China, before sending them back to Malaysia and make sure they become business owners.

"We hope that the Malaysia eWTP hub belongs to Malaysians, operated by Malaysians. It is not like it would be operated by Alibaba; owned by Alibaba... so this is the difference between last century’s globalisation and eWTP," he said.- Mkini