PETALING JAYA, March 20 (Bernama) — Recent announcement by the Human Resources Minister YB. M Kulasegaran to abolish the Category II and Category III employment passes for expatriates has caused major concerns to the Global Business Services industry. This will impact the industry as the skill sets required by the GBS industry are multi facet, highly skills, highly specialized and niche, say Cheah Kok Hoong, Chairman of Outsourcing Malaysia (OM) a chapter of The National ICT Association of Malaysia (PIKOM). OM chapter represents the GBS community in driving, promoting and developing Malaysia’s business services industry.
The GBS industry in Malaysia is estimated to be USD 6 billion at the CAGR of 10%15% per annum and employing more than 100,000 jobs. A.T Kearney has also ranked Malaysia in third place consistently since 2007 behind India and China in the Global Services Location Index (GSLI) for offshoring destination of choice. Albeit being a smaller economy and population size to India and China, Malaysia has clear competitive advantages in terms of political stability, strategic locality, relatively lower cost of doing business, and multilingual and cultural environment.
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