A Malaysian Tsunami sweeps in a new government

After six decades of a Barisan Nasional government, a Malaysian Tsunami swept the Pakatan Harapan (PH) into power.

Although the sentiment for change has been brewing for a while, the extent of the win was still surprising and quite convincing:

• Pakatan Harapan    122 seats
• Barisan Nasional       79
• Gagasan Sejahtera   18

In addition, PH will form the state governments in six states (Selangor, Penang, Johor, Melaka, Negeri Sembilan, Kedah) and possibly two more (Perak, Sabah).

What does this mean for us?

A new prime minister will be sworn in today (Tun Dr Mahathir), and will begin the task of appointing his government.  While it is a little early to form a view on the new government, you would be aware that Tun Dr Mahathir was Prime Minister of Malaysia for two decades.  In addition, PH has the backing of many experienced ex-ministers.

The same will occur at state level, with a change in possibly seven state governments.  Selangor and Penang remain as PH-run states, so we can expect to see the continuing focus on competency, accountability and transparency.

Malaysia is open for business!

The major states and the federal government have been actively promoting bilateral and regional opportunities, and are likely to continue doing so in search of new economic development.  As you are aware, AMBC Victoria has hosted visits and briefing sessions from various groups, including:

•     Invest Selangor
•     Invest Penang
•     Invest KL
•     Iskandar Malaysia
•     Malaysia Digital Economy Corporation (MDEC)
•     Malaysian Trade Commission (Matrade)
•     Malaysian Investment Development Authority (MIDA)

Members are most welcomed to contact us with queries and requests for assistance.

Malaysia's Principle Hub Incentive Scheme

Next Tuesday (15 May), MIDA will be briefing us on the generous government tax incentives available for Australian companies who intend to use Malaysia as a regional manufacturing and/or service hub.  Event and booking details can be found here.

Exciting times are ahead of us - see you at an upcoming event!

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