Labuan has been long seen as a competitive international business and financial centre in Asia. Despite the challenging externalities, Labuan IBFC continued to achieve business growth in year 2021. In particular, the Labuan digital financial services market, which was emerged in year 2017, had grown significantly over the years with a total of 90 digital financial services licensees in year 2021.
As a continuous effort to develop the Labuan IBFC, the Minister of Finance Malaysia, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz has officially unveiled the Labuan IBFC Strategic Roadmap 2022-2026 (“Strategic Roadmap”) on 16 June 2022.
The Strategic Roadmap has provided a glimpse to the forward charting of Labuan IBFC over the next five years. It aimed at transforming the Labuan IBFC into a dynamic and sustainable international centre that links and supports the economic growth of Asia’s markets, as well as contributes to the national economy. In order to achieve this vision, 5 strategic thrusts and 2 organisational enablers have been outlined in the Strategic Roadmap as follows:
