MATRADE Introduces New Activities to Enhance Exports of Services
Three New Activities Launched to Help MSPs Gain Market Access into Overseas Projects
Malaysia External Trade Development Corporation (MATRADE) launched its new enhanced Guidelines for Services Export Fund (SEF) and three (3) new activities under the Services Export Fund (SEF), aimed at enhancing exports of services. This will bring the total activities to twelve (12) from previously nine (9) that are already available. The SEF is an effort to facilitate and enhance the capabilities of Malaysia Services Providers (MSPs) in gaining market access into overseas projects.
“Malaysia’s companies in the services sector have been very active in exploring overseas projects and some of them have successfully secured the projects through collaboration with local partners and host countries. 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 Encik Mohd Mustafa Abdul Aziz, Chief Executive Officer of MATRADE.
The additional three (3) new activities introduced in 2021 cover:
- the participation fees in training programs held overseas;
- registration fees for certification including compliance to sustainability; as well as
- purchasing of software or purchasing/hire purchase/renting of machinery and equipment. These three activities are added in view of their importance in complying with the requirement of overseas projects.
With these additional activities, we hope that SEF will help to improve the international competitiveness of our service providers in implementing projects globally.
The Services Export Fund (SEF) since its inception in 2015 has benefited 189 Malaysian Services Providers (MSPs), covering such sectors as ICT, Engineering, Business Services, Construction and Education, generating export value worth RM7.6 billion. This fund has enabled the MSPs to export their services to Indonesia, Philippines, China, Myanmar, Singapore, India, Cambodia, Thailand, Viet Nam and USA.
In 2020, Malaysia’s exports of services amounted to RM91.73 billion. Major sectors were Transport, Telecommunication, Computer & Information Services and Other Business Services (including R&D, Management and Consultancy Services, Engineering), accounting 58.6 per cent of the total exports.
MATRADE urged more MSPs to come forward and be part of the programme. The new SEF guidelines will commence on 15 March 2021. MATRADE is committed to embark on this journey with as many potential MSPs, but first MSPs must register as a MATRADE member. The membership is complimentary and MSPs can register via www.matrade.gov.my.
