Labuan IBFC to offer cost-effective & lucrative solutions to local businesses

KUALA LUMPUR: Labuan International Business and Financial Centre (Labuan IBFC) is offering cost-effective and lucrative solutions to local businesses planning to penetrate ASEAN’s burgeoning markets.

In a statement yesterday, Labuan IBFC said local business owners looking to internationalise or regionalise their businesses, could achieve their expansion aims in a cost-efficient way by considering it.

With ASEAN recognised as one of the most dynamic regions in the world and the economic integration through the ASEAN Economic Community, investors and businesses, including those based in Malaysia, are able to gain access to a larger marketplace within the regional grouping.

In this regard, Labuan IBFC is an ideal entry point for Malaysian investors and businesses into ASEAN, allowing companies to operate in a tax and currency neutral environment offered in the jurisdiction.

Malaysian businesses are able to leverage on these unique qualities, while operating in a well-regulated environment.

Among the solutions and services offered by the midshore centre are leasing, commodity trading, wealth management and captive insurance.

Currently, Labuan IBFC is home to more than 13,000 companies, 212 insurance companies and 54 banks, establishing a strong and sound financial infrastructure. — Bernama