Malaysian business leaders display optimism in their prospects for revenue growth in the next 12 months (90% say they are somewhat confident or very confident), and 55% are looking to increase their investments globally.
These sentiments are also bolstered by recent announcements in Malaysia’s Budget 2020, which clearly highlights the government’s focus on driving economic growth in the digital and high-technology economy to achieve shared prosperity for all.
In spurring domestic investments, the government has announced customised packaged investment incentives of up to RM1 billion annually over 5 years for Malaysian businesses that export globally. And to encourage foreign investment, customised package incentives targeting Fortune 500 companies and global unicorns in high-technology, manufacturing, creative and new economic sectors are aimed at encouraging investments of at least RM5 billion in Malaysia. These incentives are expected to result in the creation of thousands of new jobs.