PUTRAJAYA – The Business Licensing Electronic Support System (BLESS) 2.0 streamlined the process which allowed for foreign businesses to trade in Malaysia.
Minister of Domestic Trade and Consumer Affairs, Datuk Seri Alexander Nanta Linggi, stated recently that the BLESS 2.0 system had streamlined the application process while at the same time, attracting more overseas investors to create additional branches in the country.
“The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) remains dedicated to assisting in the facilitation of business applications in order to attract more high-quality international investments to Malaysia,” he said.
Nanta further stated that despite the economic slowdown caused by the COVID-19 outbreak, Malaysia continued to attract numerous foreign corporations to invest in the country.
Between 2020 and 2021, the minister stated, KPDNHEP received a total of 1,280 applications from 573 international businesses seeking to conduct business in Malaysia’s distribution trade sector, which includes retail, distribution, and food and beverage (F&B).
These foreign businesses brought in RM11.383 billion in paid-up capital throughout the year while creating 33,123 jobs in the domestic market for these sectors.
Aside from that, he remarked that during the same period, the ministry granted 87 out of 149 applications from foreign companies in the unregulated services sector. These include consultancy firms, logistics agents, real estate brokers, as well as machinery and equipment maintenance services.
The country with the highest amount of approved application in this sector was Japan with 132 businesses. Singapore came in second with 70 applications, United Kingdom (46), South Korea (38) and Australia (19).
He highlighted that these foreign companies invested a total of RM828.84 million in the unregulated services sector throughout the period of 2020 and 2021.
Additionally, the minister explained that during the same period, the ministry had authorised applications for foreign businesses from 31 different nations to allow for them to conduct business in the unregulated services sector.
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