Monday 23 October 2017
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6 months ago

Global business services sector to post strong growth in next 3 years

ISKANDAR PUTERI: The Global Business Services (GBS) sector in Malaysia is expected to grow between 10% and 15% over the next three years, given the fact that many companies strive to run their businesses more effectively and efficiently.

Malaysian Investment Development Authority Chief Executive Officer, Datuk Azman Mahmud, said the growth would definitely help Malaysia to become a high-income and knowlegde-based country.

He said the GBS sector has always been one of core focuses in economic development, with a total of 499 GBS companies having set up their outsourcing centres and back offices in Malaysia.

Out of this, nine was established in GBS Iskandar including Frost and Sullivan, Brandt International, DayThree, Vistra and Odinsoft.

More than 93,000 jobs were created as well.

It is worthy to note that such performance has surpassed the target set forth under the Business Services National Key Economic Area of generating 43,330 jobs by 2020

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