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Friday March 31, 2006

Services industries to be expanded

THE Government plans to expand the supplementary business and services industries to maximise the manufacturing sector's growth potential.

The initiatives to be taken under the 9MP as activities to expand the services industries include:

  • ATTRACTING more operational headquarters, regional distribution centres, infrastructure project companies and regional offices so that high value added activities in the supply chain such as R&D, design and product development can be conducted in Malaysia;

  • ENCOURAGING investments in integrated global transport, logistics links and distribution centres;

  • HELPING contract manufacturers to design and produce their own brands;

  • BOOSTING the development of information hardware, encouraging e-commerce and improving the Internet environment; and

  • ENSURING adequate capacity to build up standards and accreditation, product testing and quality control activities benchmarked against international requirements.

    The Government will increase its efforts to promote investment in high value added and knowledge-intensive industries, where customised incentives for specific industries, particularly in the new growth areas, will be further improved.

    These customised benefits will cover areas such as R&D and technology transfer, job creation and expansion of new businesses. In addition, existing companies will also be encouraged to diversify into high-end industries as well as move into related services.

    To promote investments in new growth areas, a RM600mil Strategic Investment Fund will be established under the existing pre-packaged incentive scheme.

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