Reasons to Consider Opening a Business Office in Malaysia
The countries of Southeast Asia all have their charm. It is a region with favorable weather, friendly people, and excellent food. But some of these nations are easier to work with when it comes to doing business. Malaysia is a business-minded nation that makes it possible for foreigners to operate and own their businesses without excessive bureaucracy and limitations. In 2019 Malaysia was ranked 12th out of 190 economies for ease of doing business in the world. And this trend has been improving for a while. But there are many other reasons to consider Malaysia as a base of operations for your business.
Southeast Asia is a place of contrasts, and one of the essential differences between the countries is how easy the government makes it to do business. Some countries make it so complicated that it may seem like they are actively trying to discourage companies from succeeding. Malaysia has a different attitude towards business, and they see that success is good for everyone, but companies need to be flexible and self-directed. Registering a business in Malaysia is a good example; there is a well-defined process that can be completed in one day if you have an experienced agency guiding the process. The Suruhanjaya Syarikat Malaysia or SSM business registration process has been updated in recent years to make things even easier.
Another advantage Malaysia has over many of its neighbors is the international standards of education of the country. Affordable and sometimes free secondary education is also part of why the workforce is well respected and knowledgeable in many fields. For this reason, it is possible to train employees for various roles and not have to undergo the difficulties of bringing in foreign workers for specialist positions.
Command of the English Language
The world’s business language is English. Because of Malaysia’s colonial past, English is part of the culture and so there is no difficulty in finding English proficiency, and business can be conducted efficiently without translation. But there is more. Fluency in Chinese is also common, even though the primary language spoken is Malay. In any case, language need not be a concern for most businesses.
There is hardly a more strategic location in the world than the strait of Malacca. This area is one of the busiest shipping hubs in the world. Malaysia has easy access to the Pacific and Indian ocean trading routes and is in the heart of ASEAN, which represents about 600 million people. Malaysia has also benefited from its proximity to manufacturing centers throughout the region. Malaysia has favorable weather year-round, and its modern infrastructure makes operating inside of the country uncomplicated.
Malaysia has been an independent nation for the last 60 years, and it continues to enjoy political stability under its federal constitutional elective monarchy. Malaysia has avoided the turmoil, uprisings, and wars of its neighbors, making it the perfect place to consider business well into the future.
Standard of Living
Malaysia is a bit of a melting pot of cultures. The Malay, Chinese, and Indian influences have provided a little bit of everything. Add to that Malaysia’s colonial past, and the result is a nation that is rich in culture. There is something for everyone in Malaysia, it is easy to live an uncomplicated life there, and still have the benefits of first-world conditions. Malaysia is a modern country, but there are accommodations for any budget, and real estate is not as expensive as Singapore and Hong Kong.
Aside from being located strategically for international trade, Malaysia also has a burgeoning domestic market of 32 million people with a GDP that ranks thirtieth in the world. So, it is possible to expand operations on a local and international level.
One of Malaysia’s most famous features is the food. Because of the strong cultural mix, you can find the best examples of many types of food. But it is the combination of all these creative tastes in the same location that makes it so unique. And that is how many things are in Malaysia. The best of everything all close together and make good things better. With a business-minded culture, qualified workforce, strategic location, and a high standard of living, Malaysia tick all the right boxes for a place to start a business in Southeast Asia.
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