KUALA LUMPUR--The Multimedia Super Corridor (MSC) can serve as a springboard for Australian-based companies seeking market expansion in the Asean region and China, International Trade and Industry Minister Seri Rafidah Aziz said.
She said that the MSC offered several key advantages for investors, including low set-up and operational costs as well as low employment costs compared with markets like Singapore and Hong Kong.
Besides this, Malaysia also offers broadband infrastructure of 2.5 to 10 gigabits, she said during a seminar on "Business Opportunities in Malaysia". Also present was the Treasurer and Minister for State Development, Michael Egan.
Bernama reported that about 185 participants from the Sydney business community attended the seminar which would be followed by similar seminars in Melbourne, Adelaide and Perth.
The minister said that in the area of e-support services, the MSC had been successful in attracting the setting up of IT support service hubs for major corporations such as Shell, Standard Chartered Bank and DHL.
Australian companies are involved in the development of the MSC in Malaysia which offers a conducive environment for companies wishing to develop innovative information technology and multimedia products and services.
Rafidah said that companies in New South Wales with their considerable expertise could certainly explore the vast scope that existed for the provision of various high-end and specialist services to support the growth of the manufacturing sector and the Asean region.
She also said Malaysia had launched a major new initiative namely, Bio Valley Malaysia, located in the MSC which would integrate the existing and new academic and industrial research for the development of biotechnology.
Malaysia has also established the Malaysian Herbal Corporation to catalyse the development of the local herbal industry into a major sector.