Malaysia’s economy is significantly propelled by the contributions of Global Business Services (GBS) and Small and Medium-Sized Enterprises (SMEs). In a global comparison, Malaysia solidified its position as the world’s third most competitive GBS location in 2022, behind only large-population countries like India and China.
Meanwhile, 2021 statistics show that 97.4% of all registered businesses in Malaysia are SMEs, comprising a staggering 99% of all business establishments in Penang. Through Penang Development Corporation’s (PDC) infrastructural developments and growth initiatives in Penang, prospective entrepreneurs and specialists are able to tap into the state’s economic growth potential.
