Services Sector in Malaysia
- The Services Sector assumes a pivotal role in spurring the economy, affecting all facets of a country's growth. In Malaysia, the services sector's contribution to GDP stands at around 58 per cent for 2011. In line with the aspiration to become a developed nation by 2020, the services sector's contribution to GDP is targeted to reach 65 per cent.
- Growth in this sector is gaining momentum and needs to be sustained through synergistic collaboration arrangements – bilaterally, regionally and multilaterally.
- For the economy to fully benefit from this synergy in global services trade, there must be seamless movement across borders where restrictions on trade should be reduced or removed and regulatory improvements that will provide competition and enhance efficiency, inspiring confidence in investors, the business community and consumers.
- The liberalisation of the services sector brings with it opportunities, with greater market access that investors/entrepreneurs can tap into and benefit from.
- In support of the liberalisation initiative, institutions/organisations have been established, and facilitated by the government, that provide support and incentives for export and investments, as well as access to financing and capacity building programmes.
- This site provides investors/entrepreneurs, home-grown, regional or international, with relevant information on the 11 sectors that define the services sector. It provides access to information pertaining to selective services sector in Malaysia, giving you a snapshot of the mechanism that has been put in place to facilitate your business; or if you are thinking of starting one, it lays out the various organisations you can obtain information from, so that you make the best informed decision.
- This portal will
- provide you with an overview of the services sub-sectors;
- keep you abreast of the liberalisation initiatives in the various services sub-sectors;
- provide access to specific information/documents on the trade agreements, bilateral, multilateral and regional commitments that Malaysia adheres to; and
- give you an insight into the structure and function of the institutional framework for developing and promoting the services industry, such as the Malaysian Services Development Council (MSDC) as well as other institutions dedicated to provide support and facilitation to services providers.