Vincenzo Alaimo
Vice President, Asia Pacific Global Sales, Leonardo
" The reason why Leonardo decided 10 years ago to establish our presence here in Malaysia mainly due to the fact that we enjoy a good connectivity, good mix between cost of living and cost of manpower and also a good base of skilled manpower in the aviation field. "
MITI
MIDA
Malaysian Investment Development Authority
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+603-2267 3633
MATRADE
Strategic Location In The Asean Region
The rise of emerging Asia as an economic force in the making in recent years, has shone the spotlight on the Asean region, with global and regional multinational corporations rushing to stamp their mark on the growing Asean market to tap on its 674-million strong population.
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At the centre of this fast-growing economy, is Malaysia’s Greater Kuala Lumpur, which is one of the most developed economic centres in Southeast Asia, due to its central, strategic location in the Asean region. Nestled within the heart of Asean, Greater KL offers global corporations keen to carve a presence in the region, access to neighbouring economies such as Indonesia, Thailand, and Vietnam.
Favorable Business Environment
There are many positive attributes Malaysia has, including a favourable business environment that includes well-developed and established infrastructure, advanced telecommunication services and high broadband penetration, a robust financial and banking sector, business-friendly policies, and a supportive regulatory framework.
In fact, the World Bank ranked Malaysia 12th out of 190 economies for ease of doing business in its Doing Business 2020 report, noting also that “the country has good, practical models to draw on, especially in Kuala Lumpur”.
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PwC, in its Doing Business in Malaysia 2020 report, highlighted that in the last decade, Malaysia has become an attractive regional hub for services, including financial services, information and communications technology, and the logistics sector. The global consulting firm also pointed out that Malaysia is gaining recognition as an innovative international Islamic financial centre.
Future-Ready Talent
Malaysia is en route to becoming a high-income nation and leading its journey is Greater Kuala Lumpur. Greater KL is attracting next-generation digital industries such as e-digital platforms, Internet of Things, robotics, advanced medical technologies, and high-value global business services, EY highlighted in its recent KL Calling 2020 report.
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In fact, the digital economy is becoming a pivotal economic force for Malaysia; in 2018, it contributed 18.5% to the overall economy, and this number is steadily growing.
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According to the Malaysia Digital Economy Corporation (MDEC), Malaysia will have 1.2 million jobs requiring digital skills in 2025 and the number is expected to increase to three million by 2030.
The Cost-Effectiveness
Greater Malaysia is a more cost-effective area to live in than many other Asian cities, given its affordable housing and favorable cost of living. According to data from iPrice Group Sdn Bhd, the cost of living for a single person in Kuala Lumpur is an estimated RM3,262, the cheapest among its Southeast Asian peers.
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Furthermore, according to the Economic Outlook 2021 report by the Ministry of Finance, housing affordability has overall improved in Malaysia in the past few years as the overall median house price had fallen by one per cent annually from 2016 to 2019. Kuala Lumpur also has abundant housing for expatriates, with many residential areas close to healthcare facilities, international schools, and shopping malls.
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Expatriates will also find it easy to travel within Malaysia especially Kuala Lumpur, with the integrated public transport network that includes the Light Rail Transit, Klang Valley Mass Rapid Transit Lines, KTM Intercity and ETS inter-state trains, and ERL Line.