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Malaysia: New initiative to boost overseas projects
PETALING JAYA: Malaysia External Trade Development Corp (Matrade) has launched its new enhanced Guidelines for Services Export Fund (SEF) and three new activities to enhance the exports of services.
“The SEF is an effort to facilitate and enhance capabilities of Malaysia Services Providers (MSPs) in gaining market access into overseas projects, ” Matrade said in a statement issued.
The government agency said that this will bring the total activities to twelve from the previously
available nine.
“The government, through the Ministry of International Trade and Industry (Miti) and its agency Matrade, are supporting these efforts through the Services Export Fund (SEF), which was established in 2015 with the objective of enhancing the facilitation into overseas projects”, said Matrade’s CEO Mohd Mustafa Abdul Aziz.
The three new activities that were introduced are for the participation fees in training programs held overseas, registration fees for certification including compliance to
sustainability and the purchasing of software or purchasing/hire purchase/renting of machinery and equipment.
Matrade said that these three activities are added in view of their importance in complying with the requirement of overseas projects.
The new SEF guidelines will commence on the March 15, it said.
The government hopes that with this initiative, SEF will help to improve the international competitiveness of the country’s service providers when implementing projects globally.
The Services Export Fund (SEF) since its inception in 2015 has benefited 189 Malaysian Services Providers (MSPs), in industries such as ICT, Engineering, Business Services, Construction and Education, generating export value worth RM7.6bil.
This fund has enabled the MSPs to export their services to Indonesia, Philippines, China, Myanmar, Singapore, India, Cambodia, Thailand, Vietnam and USA, it said.
Matrade also urged more MSPs to come forward and be part of the programme.
The agency said that MSPs must first register as a Matrade member via www.matrade.gov.my.
Source: https://www.thestar.com.my/business/business-news/2021/03/16/new-initiative-to-boost-overseas-projects