The Global Services Location Index (GSLI) 2021 data shows Malaysia topping the world's 3rd ranking as the most competitive business location behind India and China.
According to the list released by global consulting firm, Kearney, 7 of the top 10 places are dominated by Asian economies with India ranking first at a score of 7.09 and followed by China at a score of 6.80.
Malaysia topped the 3rd place with a score of 6.22 in the Global Business Services (GBS) location list which is released every 2 years and tracks the contours of the world landscape across 60 countries.
It is understood that the index measures the position by taking into account 4 aspects which are financial attractiveness, human skills and availability, business environment and digital resonance.
According to business consultant, Joon Teoh, GBS plays a role in providing guidance to multinational companies (MNCs) or large organizations in centralizing their operations and business activities in certain countries.
It signals important information including finance, human resources, information technology and procurement to companies before making investments into the country.
Among the MNCs that established GBS centers in Malaysia are Shell, AstraZeneca and Bash.
For the international intergovernmental organization (IGO) category in Malaysia is the World Health Organization (WHO).
In the meantime, according to Teah, the Malaysian government has always emphasized the development of GBS including outlining its importance in the 12th Malaysia Plan.
