January 20, 2008
Outsourcing Malaysia, the national organization of Malaysia for the promotion of its outsourcing industries, is hailing the success of its technology-based MSC companies in winning Middle East business.
Consisting of over 50 member companies, Outsourcing Malaysia has helped push Malaysia to become the third most preferred location worldwide for outsourcing, but Outsourcing Malaysia's top representative at the inaugural Malaysian Services Exhibition 2008 believes that the country is the top destination for businesses in the Middle East who are looking to outsource services and processes abroad.
"We have become a centre for high-end consultancy and we've become very successful in terms of technology and financial services, call centers, logistics, the oil and gas industry, and human resources. What Outsourcing Malaysia represents is what companies in the Middle East are looking for today - competitive pricing, competent delivery, cutting edge outsourcing solutions, and a credible alternative to other outsourcing hubs," said Jeff Pinkham, CEO, Outsourcing Malaysia.
Strengthened by its recently signed partnership with MSC Malaysia which seeks to increase Malaysia's number of world class outsourcing companies, create a sustainable pool of globally recognized professionals, create tens of thousands of new jobs and increase revenues from ICT service exports, Outsourcing Malaysia is looking to target sectors which require best of breed outsourcing solutions.
"Middle East banks, engineering, construction and telecommunications companies have already discovered what we have to offer, and our partner companies are serving the top financial institutions in the region, in investment banking and Islamic Banking sector where Malaysia has led for a long time. We want to highlight our capabilities in other areas as well, where we can deliver solutions to a range of industries," added Pinkham.
Malaysia was ranked the 3rd most attractive investment destination by AT Kearney and McKinsey in 2005, and five Malaysian outsourcing companies made it onto the Global Services 100 list, a capabilities-driven assessment of IT and IT enabled service providers globally. "We have achieved globally recognized success in the past five years. The shared services and outsourcing (SSO) industry is a key segment of the ICT industry which is represented by PIKOM, the ICT industry of Malaysia. SSO is expected to grow by another 30% in 2008 .and will continue to be an attractive outsourcing destination globally" said David Wong, Chairman of PIKOM and Outsourcing Malaysia.
The global worldwide SSO market is expected to grow at a compound annual growth rate of 15 per cent over the next few years, reaching USD 1.43 trillion by 2009 as compared to USD 930 billion in 2006. ICT services such as SSO contributed RM2.8 billion to the nation's Gross Domestic Product of RM495.6 billion.
Source: MSC Malaysia
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