New Guidelines in Place by MARTRADE to Boost Market Capabilities
New guidelines have been launched to enhance Malaysia’s services exports by the Malaysia External Trade Development Corporation (MARTRADE).
These guidelines are applicable to the Services Export Fund (SEF). The SEF aims to enhance Malaysia’s capabilities to gain market access for overseas projects. The new guidelines are set to begin on 15 March.
MARTRADE is also introducing three new activities. This brings the total number of activities to 12 under the SEF plan. The activities will cover the cost and fees of participating in training programmes that are held overseas. The activities also cover certification registration fees from compliance to sustainability. It also includes purchasing software, hires purchasing or renting equipment and machinery.
The hope is that the new activities will enhance Malaysia’s services exports and the SEF will improve the country’s competitiveness on the international scene. Malaysian companies have been actively exploring overseas projects. Some companies have already secured projects through collaborations and partnerships with host countries.
To enhance Malaysia’s services exports, MARTRADE and the Ministry of International Trade and Industry (MITI) will support the efforts via the SEF. Since it launched in 2015, the SEF has allowed Malaysia to export its services to several countries. This includes Indonesia, China, Singapore, Cambodia, India, Thailand, Vietnam, and the United States.
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