KUALA LUMPUR (Aug 28): Malaysia has been ranked as the world's third most competitive Global Business Services (GBS) location, behind India and China, according to an index by global consulting firm Kearney. The firm's 2021 Global Services Location Index (GSLI) showed that Asian economies continued to take seven spots in the top 10, with India in first place with a score of 7.09, followed by China (6.80) and Malaysia (6.22). She noted that among the MNCs that have established GBS centres in Malaysia are Shell, AstraZeneca, British American Tobacco and Bash. GS, which comprises principal hubs, GBS and headquarters operations, is the main contributor of foreign direct investments (FDI) in the services sector. Approved investments in GS by multinational companies were recorded at RM46.1 billion, constituting 51.7% of total FDI in the services sector from 2016 to 2020.

Source: The Edge Markets August 28, 2022 22:56 UTC