Malaysia Hotline: +603- 2141 8908
Vibrant Business Environment
Malaysia’s
market-oriented economy, supportive government policies and a large local
business community that is ready to do business with international corporations
have made Malaysia a highly competitive manufacturing and export base.
A
market-oriented economy and government policies that provide businesses with
the opportunity for growth and profits have made Malaysia a highly competitive
manufacturing and export base. Malaysia’s rapid move towards the global economy
allows companies to do business in an environment that is geared towards
information technology.
One of
Malaysia’s major pull factors is its large pool of young, educated and
trainable workforce. Many of Malaysia’s university graduates are trained
overseas in fields such as engineering, and accountancy, allowing them to adapt
easily to an international corporate environment. English is widely used in
Malaysia, especially in business thus facilitating the investor’s communication
with local personnel and suppliers.
The
country’s legal and accounting practices derived from the British system are
familiar to most international companies. In addition, Malaysia retained its
position as the third best destination in the world for outsourcing activities,
after India and China, according to A.T. Kearney’s 2007 Global Services
Location Index (GLSI).
Chambers of Commerce and Industry
Newcomers
to Malaysia’s business scene will feel at home with the presence of the various
chambers of commerce and trade associations made up of corporations from
different countries. These oganisations are invaluable sources for general
business information, advice and assistance, and complement the role of
government agencies such as MIDA.
The
major organisations, are the Malaysian International Chamber of Commerce and
Industry (MICCI), Federation of Malaysian Manufacturers (FMM), the Japanese
Chamber of Trade and Industry (JACTIM), and American-Malaysian Chamber of
Commerce (AMCHAM), as well as several trade associations such as the
Malaysian-American Electronics Industry (MAEI) Group.
Developed Financial Facilities
A
well-developed financial and banking sector has enhanced Malaysia’s position as
a dynamic export base in Asia. Sophisticated financial facilities are available
through domestic and foreign commercial banks and their nationwide network of
branches. There are also representative offices of several foreign banks that
wish to establish a presence in the region. Besides the commercial banks,
investment banks, and Islamic banks are major sources of credit to the
industrial sector in Malaysia.
Exporters
in Malaysia can also take advantage of the credit facilities offered by the Export-Import
Bank of Malaysia Berhad (Exim Bank), while another institution, Malaysia Export
Credit Insurance Berhad (MECIB), offers export insurance cover and guarantees.
To complement Malaysia’s financial system, the government has established the
Labuan International Business and Financial Centre (IBFC) on the island of
Labuan located off the north-west coast of Borneo.
Companies
in Labuan enjoy minimal taxes as well as confidentiality. To-date, more than
2,700 offshore companies have commence operations in Labuan. These include
offshore banks, trust companies, and insurance and insurance related companies.
The Labuan Offshore Financial Services Authority (LOFSA) is a one-stop body
that spearheads and coordinates the development of IBFC.
Local Vendors
Over the
last three decades, Malaysia has developed a large pool of ancillary and
supporting industries that was initiated with the entry of MNCs into the
country. These MNCs, especially those which pursued active vendor development
programmes, have contributed greatly towards the development of local
small-and-medium scale industries (SMIs) that are highly competent and
competitive with some even penetrating export markets.
Joint-Venture Partners in
Malaysia
Most
large Malaysian companies have been involved in trade and industry for
generations, and many have excelled in international and regional markets.
Thus, foreign investors seeking joint-venture partners in Malaysia will be able
to select from a wide range of companies to find one that matches their needs.
MIDA also assists foreign investors in business match-making to start
joint-venture projects or to undertake contract manufacturing.
Contact
us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Hong Kong hotline：86-755-
36990589;
Email:
mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my