Labuan Vows To Attract EU, US Investments
Speaking at a seminar entitled 'Maximising Benefits From Labuan - Asia's Premier
International Offshore Financial Centre' on Tuesday, head of the Labuan Offshore
Financial Services Authority's (Lofsa) financial division, Md Yunus Atip suggested
that the jurisdiction, although small, is ideally placed to attract investors
from Europe and the United States. "Although we have much to improve, we have the necessary infrastructure
for foreigners to venture into Malaysia or the Asia-Pacific region and for local
investors to venture abroad," he announced, adding that Labuan's finance
centre has been rated as low risk with regard to money laundering by multilateral
organisations such as the International Monetary Fund (IMF). According to Malaysian news service The Star, fellow speaker at the seminar,
William Bucks Chartered Accountant of Australia partner, Dr Christopher Brown
seconded this, observing that although the jurisdiction's finance centre was
not large by volume, it had the necessary standards and quality of service. He added that: "China, the single biggest future market, is at Labuan's door step. This
augurs well for the centre." .
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