Malaysia has a low unemployment rate of approximately 3.4% as revealed by the latest statistics in this area. Known for its professional skills among the main attributes, the workforce in Malaysia, including in Labuan is a top choice for foreign investors who decide for business in this area. The oil & gas sector benefits from a wide range of professionals and experts who are at the disposal of entrepreneurs looking to thrive in this important sector. Our company formation agents in Labuan can offer in-depth assistance for opening a company in Labuan in matters of registration with the local authorities.
Key facts about the workforce in Labuan
The working age in Labuan is set between 15 and 64 years of age and it sums up approximately 7 million individuals in the labor field. The following matters can describe the key facts of the workforce in Malaysia, including in Labuan:
- • most of them are young and educated workers who activate in varied fields in Labuan;
- • skilled workers can be found sectors like agriculture, manufacture, services and sales, IT and tourism;
- • around 13% of the professional workers are found in the machinery sectors and approximately 23% are found in the retail sector in Malaysia, including in Labuan.
- • in terms of education, Labuan is extremely competitive in this area, due to an extensive range of educational opportunities and varied public and private colleges that offer skilled and highly educated workforce.
Our company incorporation specialists in Labuan can offer a complete overview of the labor force in this jurisdiction and ca help foreigners establish their business presence in Labuan. If you would like to open a Labuan trust company, you can talk to our advisors.
Why hire local workforce in Labuan?
If you are a foreign investor who would like to benefit from a highly educated workforce in Labuan, you should direct the attention to the local professionals, particularly for sectors like oil & gas, engineering, electricity, IT or manufacturing. Likewise, entrepreneurs should know that the Malay government offers a series of investment encouragements in terms of taxes for foreigners who hire from the local workforce.
We invite you to talk to our team of company formation representatives in Labuan and solicit details about the company formation in Labuan, plus related services in this direction. Feel free to contact us at any time.