Malaysia offers a flourishing base of diverse high-skilled and tradable professional services. Businesses are encouraged to seize the growing opportunities in this sub-sector as it is poised to drive economic growth and productivity.
Under the Malaysia Productivity Blueprint (MPB), professional services cover the following targeted industries:
> Management Consulting
> Wealth Management
Given the growing base of local service providers in Malaysia, MIDA has established a single platform to encourage the utilisation of local services in the country. Investors looking to leverage on the country’s local supply chain can head on over to the MIDA i-Services Portal.
Selected professional services are among the 45 services sub-sectors that were liberalised in 2009. The ease of entry opens up more opportunities for foreign investors to expand their operations in Malaysia and contributes to improving market standards as well as strengthen the competitiveness of the services sector.
The Professional Services sub-sector had contributed RM29.8 billion to GDP in 2018. The value add of professional services sub-sector grew at an average rate of 9.1% annually from 2015 to 2018.
The portal is a business linkage platform to connect local service providers and their potential clients, which consist of both domestic and foreign companies. It serves to promote and encourage the utilisation of local service providers for investment projects and to facilitate linkage programmes by MIDA or other agencies.
Local service providers are encouraged to register their businesses in the portal as this will be an effective, cost-efficient medium to showcase their expertise and capabilities. This gateway will also help them expand their markets and further boost business activities.