Budget 2027: Govt rolls out six initiatives to attract global firms, skilled talent

KUALA LUMPUR, Oct 9 — Prime Minister Datuk Seri Anwar Ibrahim announced in Budget 2027 several initiatives aimed at enticing global firms and skilled workers to Malaysia. Among the six initiatives, the government plans to improve the Global Services Hub (GSH) incentive, which currently offers a special five percent tax rate for new companies.

The GSH incentive will be extended to 30 years in five-year increments and will also grant exemptions from withholding tax on interest payments and stamp duty for intercompany loan agreements. Additionally, Malaysia's existing DE Rantau Nomad Pass will be extended for an additional two years, allowing holders and their spouses to work remotely in the country.

The government also intends to introduce the Malaysian Asean Business Entity (MyABE) status to help Malaysian companies expand across Southeast Asia. The Securities Commission and Hong Kong regulators will cooperate to facilitate dual listings for Malaysian companies, providing matching grants to cover listing costs.