Infinity has long known the benefits of operating in Malaysia. The company opened its Kuala Lumpur office in 2004 and has been assisting expatriate and local clients in the country ever since.
Below are just some of the reasons why Malaysia is such an attractive country to do business and the ideal platform for companies looking to expand into the Asian market:
A strategic location
Malaysia is strategically located right in the centre of South East Asia and perfectly placed to benefit from the vast Asia-Pacific market.
Excellent transport links
Malaysia’s transport links not only facilitate international travel for business people but also offer easy access to the global supply chain. Malaysia is a major air hub with five international airports connecting the country to all the major cities of Asia and beyond, to the US and Europe. Air-cargo facilities exist at all of them. The country has seven international seaports and is located by one of the world’s busiest shipping lanes in the Malacca Straits. There are also efficient road and rail links to other parts of South East Asia.
A dynamic business environment
The Malaysian government is well known for its pro-business stance and its market-oriented economy is exactly what businesses need to maximise their chances of achieving both profit and growth. The country has attractive taxation policies and offers fiscal incentives which enable companies to be competitive in the global marketplace. The government has proven itself dedicated to creating an entrepreneurial and innovative economy.
Boasting a vast fixed and wireless infrastructure, Malaysia has one of the best telecommunications networks in the whole of Asia with fibre connectivity widespread except in rural areas.
A dynamic workforce
Malaysia’s human resources are one of the country’s great strengths. A young, educated and productive workforce means that recruiting excellent candidates is easy for both the services and manufacturing industries.
A resilient economy
The Malaysian economy has demonstrated consistent growth over a sustained period. According to the country’s Department of Statistics the economy expanded by 4.3% in 2019 with average GDP growth over the last five years just shy of 5%. Inflation is also low averaging 1.84% over the last five years.
In spite of an inevitable Covid-related contraction in 2020 the economic outlook is positive with the World Bank predicting growth of 6.9% for 2021.
A cosmopolitan community
An ethnically diverse and multicultural population, made up of Malays, Chinese and Indians, as well as a thriving expatriate community of people from all over the globe, gives Malaysia a competitive advantage when it comes to international trade. English is widely spoken, particularly in the business environment.
A positive regulatory environment
An effective and competitive private sector is governed by various different regulatory bodies to ensure that the interests of different stakeholders and the public are protected. These include the Malaysia Competition Commission, the Securities Commission of Malaysia and the Labuan Financial Services Authority.
The unique combination of factors outlined above combine to make Malaysia an extremely attractive place to do business and contribute to making the country a magnet for new businesses and foreign investment. In 2019 the country was ranked 27th in the World Economic Forum’s competitiveness index, ahead of China, Thailand and Vietnam.
If your business is looking to expand within Asia, Malaysia is well worth considering as a base for your operations. The Malaysian Investment Development Authority (MIDA) is a great source of information for both manufacturing and service-based businesses who are looking to establish themselves in Malaysia.