While the global and national economy continues to face various external pressures, the GBS industry is likely to buck the trend and register stronger growth in 2017.
This year’s Smart Sourcing Summit organised by Outsourcing Malaysia considered the subject of disruption within the realm of the Global Business Services industry.
Based on Outsourcing Malaysia’s GBS Business Services Outlook Report, Malaysia’s GBS Sector is poised to record growth of 10%-15% for the next five years; creating more than 6,000 jobs in 2016.
Outsourcing Malaysia aims to be indispensable to its members and adds a B2B element for the first time, at its yearly Smart Sourcing Summit next week.
The GBS sector is growing and Malaysia can benefit from this, but only if it can produce enough skilled workers to meet demand, noted Outsourcing Malaysia.
Outsourcing Malaysia believes that despite the various economic and external challenges faced by Malaysia, the local global business services (GBS) sector will continue to see strong growth and good prospects.
Malaysian global business services (GBS) players need to start venturing outside the country and look at partnerships with other companies in South-East Asia urgently, or risk losing out when the Asean Economic Community (AEC) comes into being.
Outsourcing Malaysia said it would be working together with Multimedia Development Corporation (MDeC) and Talent Corporation Malaysia to train university graduates to boost their employability in the Shared Services and Outsourcing (SSO) industry.
Outsourcing Malaysia, Setia Haruman Sdn Bhd and i2M Ventures Sdn Bhd (i2M) have formed an ‘institutional partnership’ to help grow the outsourcing ecosystem in the country.
Malaysia’s outsourcing industry saw revenue from overseas outsourcing opportunities and projects going up 27% to RM1.59 billion (US$499.6 million) in 2013 from RM1.25 billion (US$392.8 million) in 2012, according to Outsourcing Malaysia.