Malaysia launches professional service export fund

Kuala Lumpur, Sept 29 | Updated: Sep 30 2006, 05:30am hrs
Malaysia has launched a Rm150 million professional services export fund to extend the global outreach of the countrys professional service providers.

The fund comprises a matching grant and conditional grant to cater to the differences in the scope and nature of international projects, minister of international trade and industry, Rafidah Aziz said while launching the fund. Rafidah said Malaysian professional service providers had the expertise and technical capacity to successfully compete in the international arena as the track records of some had shown.

However, feedback showed that some of them, in particular, the smaller firms, are constrained from participating in the overseas bidding process because of inadequate financial resources, she said.