SME News | Malaysia to propose new Asean business category to spur regional growth

The Malaysia chapter of the Asean Business Advisory Council (Asean-Bac) will propose that Asean countries recognise a category called the Asean Business Entity (ABE) to foster companies that are neither strictly local nor global, encouraging more regional business.
Once certified as an ABE, a company can enjoy incentives and privileges granted by member states, including greater market access, Tan Sri Nazir Razak, Chairman of Asean-Bac Malaysia, said today.
Nazir, also chairman of Asean-Bac Malaysia from 2023 to 2026, stated that ABE-certified companies could undertake back-office outsourcing, such as information technology (IT) operations, in another Asean country.
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