Iskandar Malaysia: The Evolution of SSO Destinations
Many world-class companies have long made Malaysia their regional and global operations base for Shared Services & Outsourcing (SSO). To date, there are over 200 SSO companies consisting of major local and multinationals within the Multimedia Super Corridor (MSC) Malaysia, the country’s equivalent to India’s Bangalore and United States’ Silicon Valley.
Malaysia’s vibrant ICT and services industry and attractiveness as a regional and global SSO hub is confirmed by the AT Kearney Offshore Location Attractiveness Index, which ranked Malaysia as the world's third most attractive SSO location for 8 consecutive years.
Malaysia is already home to many shared services divisions of banking, financial services and insurance (BFSI), energy and transport & logistics companies.
HSBC, Standard Chartered, ExxonMobil, GSK and more recently BP operate their accounting and finance support activities whereas Hewlett Packard and Dell provide their Global IT Services from Malaysia.
Iskandar Malaysia, in the southern tip of Malaysia covers land area of 2,217 sq km. Strategically located, its relative prosperity is celebrated by a history of political stability and social and cultural cohesion.
Using the momentum of new growth sectors such as the SSO, Iskandar Malaysia has the advantage of the competitive cost structure, well-educated workforce and business friendly policies.
Experiences in the development of SSO sector of the MSC Malaysia initiative have provided key learning for the development of Iskandar Malaysia. This is featured in next generation:
- Talent development
- Infrastructure development
- Lifestyle & amenities development
- Trade & market access development
This is being done in collaboration with Iskandar Regional Development Authority (IRDA), Multimedia Development Corporation (MDeC), Malaysian Investment Development Authority (MIDA) and other relevant agencies.