Malaysia's business services sector contributed RM20 billion (USD5.7 billion) to GNI in 2009 or 2.9%, leaving significant scope for growth. In other emerging markets, like China and the Philippines, the business services sector is forecasted to grow by around 11% over the next decade. Malaysia aims to match or even surpass these levels to meet its GNI growth rates.
There are 6 Entry Point Projects (EPPs), and 3 Business Opportunities.
There are additional business opportunities that will support the growth of the industry. In additional to business as usual growth in the sector, we outline three specific business opportunities. A fourth area – increasing skilled resources – serves as both a business opportunity and common enabler for the sector.
In total, these business opportunities are expected to contribute RM19.5 billion (USD5.6 billion) incremental GNI impact in 2020, which consists of RM12.3 billion (USD3.5 billion) from the specific opportunities described here and RM7.2 from organic sector growth. In addition, these business opportunities are expected to create 107,000 new jobs by 2020.
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