WHY MALAYSIA THOUGH, YOU MAY ASK?!
Despite all the political and economical chaos that has happened and is happening in the country this year, the future’s looking bright.
Statistically speaking, Malaysia is having a strong expanding economy, as The World Bank has forecast that the country’s economy will go steady at a GDP* rate of 5.4% which makes its an ideal place to start your business. (*Gross Domestic Product).
Apart for stable economy growth, there are millions of reason why Malaysia is perfect spot for your business venture.
Whether if you are foreign investor looking for a new market or if you are local trying to venture into foreign market, take a moment and appreciate the resources and sources available in the country and you will realize that there is no place like Malaysia.
Let’s take a look at eight solid and factual reason why it is feasible to kickstart your business without any hesitation and fear in Malaysia.
1) Strategic Location
Malaysia is located in the heart of Asia Pacific Rim with many ASEAN countries surrounding it.
Offering business an easy yet massive access to the South East Asia market, which is the fastest growing market in the world right now says Forbes Magazine.
In fact, this is the main reason why many foreign investor chose Malaysia.
After all, Malaysia is Truly Asia.
2) Young, Intelectual and Urban Demographic
Though it is not the biggest country in the world but Malaysia definitely is a metropolitan with an 76% of its total population urban.
In the Peninsular alone,1/3 of the population are living in urban city areas. Kuala Lumpur alone has 1.7 Million people, and the population is continuously growing.
Apart from that, it is the only country in the world with more than 95% of literacy level for both male and female.
3) Low Operation Cost and Cheap Labors
Over 80% of startups spend half of their monthly expenses on labor and operations, if not more.
Being able to reduce these 2 main expenses of the business can dramatically increase the survival rate of the company, especially during the early stages of growth.
Due to the lower exchange rate of the Ringgit to many foreign currencies today, hiring talented & skilled labour in Malaysia is also a lot more affordable compared to anywhere else.
4) Flexible Banking System
Modern and flexible banking infrastructure is available across the country making it easy for you to have multiple foreign currency accounts.
There are two types of banks, onshore and offshore in Malaysia. Means you can use your international card here and use local card abroad.
Personal banking on various currencies is also conveniently available for local and international entrepreneurs with valid residency visa.
5) Excellent Infrastructure and Wide Connectivity
Malaysia has an excellent network of highways which boosts connectivity and accessibility across the country with efficient cross-border highway that even links Singapore to Thailand!
It is also the home to international award-winning airlines such as Air Asia, Firefly and MAS, offering cheap flights for great savings and convenience for you to move in and around the country and beyond.
In terms of internet connectivity, Malaysia continuously upgrade its networks for its wide broadband penetration throughout the country.
Plus, it is home to one the highest number of mobile and internet users.
6) Peaceful and Safe for Living
Since its independence in 1957, Malaysia has been an land of multi-ethnicity and culture which consists of three major races the Malay, Chinese and Indian living together harmoniously.
It is also politically stable led by a democratically-elected coalition Government committed to the socio-economic development of the nation.
Malaysia is also well positioned and safe from major natural disasters such as earthquakes, tsunamis, and typhoons.
7) Friendly and hospitable citizens
Malaysians are well-known for their hospitality and friendliness to each other as well to foreigners visiting the country.
Values of honor and respect are well ingrained in the culture in spite of racial and religion differences.
The friendly nature and positive attitude will make you feel very much ecstatic and offer great opportunities for further collaboration.
8) Wide use of English
Being under the CommonWealth shell, Malaysia has a strong English influence.
Almost of all its people can speak good English and you can find English everywhere!
Wide use of English, especially in business, legal and accounting practices based on the British system making it easy to reach global level.