Malaysia`s strong economic performance is supported by its government`s relentless initiatives and policies to improve the country` s business efficiency along with government efficiency. This makes it an attractive business destination. According to the World Bank`s report of Doing Business 2019, Malaysia ranks 15th worldwide and second in ASEAN. The global competitiveness report ranks Malaysia at 25th position out of 140 economies.
Malaysia`s strategic location presents a great opportunity for investors looking for company registration in Malaysia as a means to enter the local Malaysian market, or the ASEAN market or much better international market as Malaysia is at crossroads of major sea routes connecting many parts of the world.
Here are some pretty convincing reasons so as to why you should invest in Malaysia.
1.Vibrant Business Environment
Malaysia has an open, diversified and robust economy. It has well-developed financial and banking sector. One example of its leading financial centre is the Labuan International Business and Financial Centre which is renowned all over the world. It is one of the leading exporters of electrical appliances and other such components. 40% of the jobs in Malaysia are owed to the export activities. The Malaysian economy has witnessed an upward trajectory for the past decade and is expected to shift from upper middle-income economy to high-income economy in a couple of years. Malaysia`s near-term economic outlook seems quite strong with government measures to sustain private sector activities and increasing scope for public investment.
Malaysia`s well-developed infrastructure serves the business community in the best possible ways. The country enjoys a stable power supply through its thermal generation assets and hydro-generated schemes reflecting the government`s push to promote high technological industries.
Well-regulated water supply is in place to promote efficiency and to benefits consumers, investors andoperators.
The telecommunications (fixed-line, mobile and satellite communications) infrastructure is highly developed and supports a full range of domestic and international services comprising voice, video, data, and other advanced communications services by deploying wired and wireless bandwidth to provide high speed.
High-development projects initiated by the government in the last few years have led to the formation of a highly impressive network of air cargo facilities, seaports, highways and railways to better serve along the length and breadth of Peninsular Malaysia.
Malaysian workforce is young and educated many of whom have a good command over the English language. The quality and adaptability of the workforce are quite commendable. The Malaysian government is fully committed to meet the aspirations of the people by focusing on improving the inclusiveness towards an equitable society, improving the wellbeing of all, speeding up human capital development through education-related reforms.
To advance the socio-economic condition of the country, business and community leaders have embraced technology and are continuously improving their skills and knowledge to move forward and make Malaysia a digital economy. To make this happen, the government is on a fast-track re-engineering process for greater prosperity.
Various sectors of the economy are moving towards automation and digitalisation such as manufacturing industry, legal industry, financial services and agriculture. Adoption of automation in the manufacturing sector has led to increased efficiency, enhanced productivity and growth in sales. Technological reforms are also being introduced in the legal industry such as video conferencing, virtual courts, paperless courts for a better case management system and data sentencing by utilising artificial intelligence to ensure consistent sentencing. The agriculture sector is equipping itself with technology-driven solutions for higher crops yield to meet the demands of the rapidly increasing population.
5.A Gateway to Diverse Markets
Malaysia`s strategic location makes it a bridge between Asia and the rest of the world. It is a transportation corridor that can benefit businesses if utilised the right way. To exploit this economic corridor, you can set up an offshore manufacturing unit in Malaysia and easily expand your consumer base. It is a cost-competitive locale and the transport infrastructure of this nation is a blessing.
To future-proof businesses, the government of Malaysia has adopted a very pro-business stance. The government policies are responsive to the changing global business scenario and provide opportunities for growth and profits. The government asks for feedback from the business community through government-private sector dialogues. The Malaysian government allows foreign investors to completely own new projects as a part of its Liberal Equity Policy. Foreign companies are allowed to employ expatriates.
Malaysians are friendly and hospitable which makes Malaysia a safe environment to live. It has excellent housing, amazing healthcare with great medical facilities. There are international schools for expatriate children along with world-class sports and recreational facilities. Malaysia can certainly provide you with an excellent shopping experience with goods from all over the world. It is an advanced nation with a strong infrastructure to support the country`s pathway to economic expansion and sustainable growth.
You know what they say; the journey of a thousand miles begins with the first step. And the experts at Business Setup Worldwide can help you achieve this first feat by incorporating your business as per your request. So, take the first step and contact us to begin your journey in Malaysia.