OUTSOURCING MARKET TREND IN MALAYSIA

For those professionals like accountants,It experts and others who would like to pursue or establish outsourcing business,take note of the advice from Outsourcing Malaysia chairman David Wong 

According to David Wong: 

• Our local outsourcing sector could be worth more than US$5 billion (RM17.55 billion) in 10 years if local firms can win bigger deals internationally . The sector is expected to grow by 18 per cent this year to US$1.1 billion (RM3.86 billion) and reach an estimated US$2 billion (RM7.02 billion) by 2012. This figure is still small compared with the global outsourcing market that’s worth US$220 billion (RM772.2 billion).
•  The local outsourcing market growth is retarded by lack of venture capitalists[ less than 10 VCs as compared to 50 during the Internet boom.]
• Outsourcing in ICT involves shared services outsourcing (SSO),IT outsourcing (ITO) and business process outsourcing (BPO) among others.
• The US,Europe and Asia Pacific,including Malaysia,Japan and Australia will be the key focus areas for Malaysian service providers for BPO and ITO services.

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