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Customised incentives for foreign ICT investors in Malaysia

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The government of Malaysia will consider introducing customised incentives to attract more foreign investors to Malaysia's ICT sector.

Minister of Science, Innovation and Technology (Mosti), Datuk Seri Dr Jamaludin Jarjis said that his ministry would be presenting the proposal on customised incentives to the High Impact Project Committee by the end of November this year. The Committee is chaired by Deputy Prime Minister, Datuk Seri Najib Tun Abdul Razak. Dr Jamaludin said the incentives for a start were meant to attract companies from India. As of now, there are 55 Indian companies operating in Malaysia's Multimedia Super Corridor (MSC Malaysia) with investments exceeding US$25 million. On the opening of the new MDeC office in Bangalore, Dr Jamaludin said it was an important link for both Indian and foreign companies operating in India wanting to operate in Malaysia's MSC. He stated that in view of the high competition, something must be done, citing Vietnam's success in pulling investment from global ICT entity, Microsoft. He also mentioned that Malaysia would not lose by giving incentives as it would be gaining in terms of tax income, employment opportunies and others. Among the incentives to be suggested to the committee would be the provision of grant to foreign companies to provide training to locals without charging any rental fees on their operating premises. The Malaysian government has said that it would be giving wide attention to the ICT sector under the Ninth Malaysia Plan.

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