Govt lifts 30% bumi rule for 27 services sub-sectors

PUTRAJAYA: The government has removed the 30% bumiputra equity condition in 27 services sub-sectors, with immediate effect.

Prime Minister Datuk Seri Najib Tun Razak said that the Government would progressively undertake the liberalisation of other services sub-sectors on an ongoing basis.

Among the services sub-sectors immediately liberalised were health and social, tourism, business and computer related services, he said.

In a bid to develop Malaysia as an international Islamic financial hub, the legal profession would be liberalised to allow up to five international law firms with expertise in international Islamic finance to practise in Malaysia, Najib said.