Services

In Malaysia, the digital economy is one of the key economic pillars and is expected to contribute 25.5% of the country’s GDP by 2025 according to Malaysia Digital Economy Corporation (MDEC). In Penang, it is equally important to note that aside from manufacturing sector, services industry is also among the Penang’s twin engine of growth, contributing to almost 50% of the State’s GDP.

Particularly, Penang is one of the thriving hubs for Global Business Services within Malaysia (GBS) and housing Centre of Excellence (CoE) for multinationals. The GBS operations of multinationals are mainly serving their companies’ global or Asia Pacific operations. The establishment of GBS services in Penang is a natural extension that usually complements or is synergistic to the companies’ existing manufacturing operations in Penang.