When it comes to business and business opportunities, Malaysia is known for its progressive approach. Most articles available out there will tell you that, usually, it takes roughly one week for someone to get their business up and running in this country. There's a growing community of digital nomads in Kuala Lumpur, not to mention it's also one of the biggest business hubs in Southeast Asia.
In addition to this, the country doesn’t lack scenery, sights, and monuments either – in short, everything that makes for healthy tourism exists abundantly in Malaysia. If we pair this with the pro-tech attitude of the country, we get a space that is more than just ideal for the development of business tourism and trading.
Let’s take a closer look at why Malaysia is one of the best places for traders!
Progressive and Supportive Environment
As mentioned above, almost every single type of business in this country is directly supported by the government. How? Well, the implementation of an economic model with the main goal being a high-income economy says just about everything!
Moreover, the country respects the PDPA and WIPO standards when it comes to technology-related businesses. This is one of the main reasons why so many investors and entrepreneurs choose to base their tech firms in Malaysia.
However, conventional models were not entirely forgotten either. Currently, the country supports conventional businesses and services too, that provide a traditional experience for both locals and foreigners. Naturally, this involves business tourism as well, more or less.
Constant Economic Growth
Malaysia is one of the few countries with a GDP that has been increasing every single year for the past 7 to 8 years, according to the latest data. On top of that, statistics show that, in each year, the GDP has been growing by more than 4%.
Therefore, it’s safe to say that the country enjoys constant economic growth. On top of that, it’s also worth mentioning that the growth was caused mainly by the retail and financial sectors.
The financial sector is particularly important to us since it’s closely related to business tourism and trading. As long as finances go up, so to speak, business tourism will continue to grow.
Little to No Language Barriers
When it comes to business tourism, one of the main concerns is the language barrier. How will you be able to survive a visit there if they don’t know the language? In many cases, the answer to this question lies in hiring a translator.
However, Malaysia comes with no language barriers. Why? Well, because 70% of the people there speak English – it’s a second language in the country. Every type of business-related communication will most likely always be entertained in English.
Obviously, this is a big plus! If a foreign company decides to relocate to Malaysia, they won’t have to deal with translators, as even the labor force is fluent in English.
Business involved individuals have stated many times that they prefer Malaysia when it comes to doing business because it’s very easy to get into the country, get out, and set up shop there, so to speak.
As the argument has been strengthened throughout this article, it is safe to say that Malaysia is more than just welcoming for global businesspeople. Land and air borders are very easy to deal with and, naturally, this makes trade one of the country’s strong points as well.
In short, businesses and their respective individuals aren’t stopped by bureaucracy or anything else when they want to do business in Malaysia.
Speaking of trade, Malaysia also enjoys something known as the Digital Free Trade Zone. As implied by the name, this opportunity is aimed at businesses that operate in the online environment.
Therefore, launching online businesses and managing them is incredibly easy in Malaysia. eCommerce is highly developed there – this is one of the reasons why business travel to Malaysia often ends with a relocation there.
Thanks to DFTZ, many entrepreneurs decide to start a business/company in this country. Exporting goods is very easy and, since it’s highly supported by the government, it’s also very profitable!
Thanks to all of the above, it goes without saying that the trading scene of Malaysia is also quite developed, as well as popular. Given that many reputable companies and startups decide to make this country their home, it’s clear why people would invest in Malaysian stocks.
Basically, the constant increase of Malaysian business tourism makes the country’s currency and stocks very important for professional traders, to say the least. On top of that, since MetaTrader 5 is used by many brokers in Malaysia, including FXTM, the foreign trader won’t have a hard time accommodating here if they choose the nomad trader life.
Last but not least, we must also mention the MDEC/MSC status that is given to companies operating in the tech industry. Every single startup, firm, or business that is tech-led has the opportunity to receive this status. But what does it mean?
It gives those entities access to fiber optics, high-speed broadband internet that they can use for business purposes – and a handful of other activities.
For example, if you decide to open a high-end broker in Malaysia, the government will make sure that the service you provide never goes offline.
Due to a well-thought-through economic plan, Malaysia is becoming more and more similar to countries like Singapore and Japan. Both multinationals and startups alike are deciding to move their HQ there or at least have a branch set up in this country.
The main result is the extensive growth that business tourism enjoys. Naturally, the effect is that trading overall within this country is seen as a great opportunity for profit, for everyone!
The Bottom Line
It goes without saying that most of the Asian governments know how to make a country successful in line with modern economic standards, especially when looking at Singapore and Malaysia.
For example, one of the most popular gaming companies in the world, Razer, has opened an HQ in Malaysia and has actively helped with the technological development of the country (including implementing various e-payment options). In short, operations in Malaysian territory are bound for success!