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Labuan International Business And Financial Centre
Labuan International Business and Financial Centre (IBFC) is a special economic zone of the Malaysian government based on the island of Labuan off the Borneo coast. It was established in 1990 and has been marketed as having a unique position to tap investment opportunities in Asia and beyond. The Labuan IBFC shares a common time zone with many large Asian cities and its location between China and India as well as its proximity to several other financial centres has been used to promote the Labuan IBFC as a convenient location for business dealings. Labuan has been designated as a financial centre and free trade zone A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re- exported under specific customs regulation and generally not subject to cus ... by the Malaysian government. History In January 2008, a rebranding and repositioning exercise of the IBFC to reflect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Economic Zone
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation. The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI). The benefits a company gains by being in a special economic zone may mean that it can produce and trade goods at a lower price, aimed at being globally competitive. In some countries, the zones have been criticized for being l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia and Borneo's East Malaysia. Peninsular Malaysia shares a land and maritime Malaysia–Thailand border, border with Thailand and Maritime boundary, maritime borders with Singapore, Vietnam, and Indonesia. East Malaysia shares land and maritime borders with Brunei and Indonesia, and a maritime border with the Philippines and Vietnam. Kuala Lumpur is the national capital, the country's largest city, and the seat of the Parliament of Malaysia, legislative branch of the Government of Malaysia, federal government. The nearby Planned community#Planned capitals, planned capital of Putrajaya is the administrative capital, which represents the seat of both the Government of Malaysia#Executive, executive branch (the Cabine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labuan
Labuan (), officially the Federal Territory of Labuan ( ms, Wilayah Persekutuan Labuan), is a Federal Territory of Malaysia. Its territory includes and six smaller islands, off the coast of the state of Sabah in East Malaysia. Labuan's capital is Victoria and is best known as an offshore financial centre offering international financial and business services via Labuan IBFC since 1990 as well as being an offshore support hub for deepwater oil and gas activities in the region. It is also a tourist destination for people travelling through Sabah, nearby Bruneians and scuba divers. The name Labuan derives from the Malay word ''labuhan'' which means harbour. History For three centuries from the 15th century, the north and west coast of Borneo including the island of Labuan was part of the Sultanate of Brunei. In 1775, Labuan was temporarily occupied by the British East India Company after the failure of the company's station at Balambangan Island. The Sultan of Brunei, Omar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Borneo
Borneo (; id, Kalimantan) is the third-largest island in the world and the largest in Asia. At the geographic centre of Maritime Southeast Asia, in relation to major Indonesian islands, it is located north of Java, west of Sulawesi, and east of Sumatra. The island is politically divided among three countries: Malaysia and Brunei in the north, and Indonesia to the south. Approximately 73% of the island is Indonesian territory. In the north, the East Malaysian states of Sabah and Sarawak make up about 26% of the island. The population in Borneo is 23,053,723 (2020 national censuses). Additionally, the Malaysian federal territory of Labuan is situated on a small island just off the coast of Borneo. The sovereign state of Brunei, located on the north coast, comprises about 1% of Borneo's land area. A little more than half of the island is in the Northern Hemisphere, including Brunei and the Malaysian portion, while the Indonesian portion spans the Northern and Southern hemisph ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade Zone
A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re- exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Definition The World Bank defines free trade zones as "small, fenced-in, duty-free areas, offering warehousing, storage, and distribution facilities for trade, transshipment, and re-export operations". Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services. Synonyms Free-trade zones are refer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Malaysia
The economy of Malaysia is the third largest in Southeast Asia and the List of countries by GDP (nominal), 34th largest in the world in terms of GDP. The 2018 labour productivity of Malaysia was measured at Int$55,360 per worker, the third highest in ASEAN. According to the Global Competitiveness Report 2021, the Malaysian economy is the 25th most competitive country economy in the world. Malaysians enjoy a relatively affluent lifestyle compared to many of its neighbours in Southeast Asia. This is due to a fast-growing export-oriented economy, a relatively low national income tax, highly affordable local food and transport fuel, as well as a fully subsidized Single-payer healthcare, single-payer public healthcare system. Malaysia has a newly industrialised country, newly industrialised market economy, which is relatively open economy, open and state-oriented. The Malaysian economy is highly robust and diversified with the export value of high-tech products in 2020 standing at US ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Economic Zones
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation. The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI). The benefits a company gains by being in a special economic zone may mean that it can produce and trade goods at a lower price, aimed at being globally competitive. In some countries, the zones have been criticized for being l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Trade Of Malaysia
The economy of Malaysia is the third largest in Southeast Asia and the 34th largest in the world in terms of GDP. The 2018 labour productivity of Malaysia was measured at Int$55,360 per worker, the third highest in ASEAN. According to the Global Competitiveness Report 2021, the Malaysian economy is the 25th most competitive country economy in the world. Malaysians enjoy a relatively affluent lifestyle compared to many of its neighbours in Southeast Asia. This is due to a fast-growing export-oriented economy, a relatively low national income tax, highly affordable local food and transport fuel, as well as a fully subsidized single-payer public healthcare system. Malaysia has a newly industrialised market economy, which is relatively open and state-oriented. The Malaysian economy is highly robust and diversified with the export value of high-tech products in 2020 standing at US$92.1 billion, the second highest in ASEAN. Malaysia exports the second largest volume and value of pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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