Labuan is a great offshore location which offers abundant opportunities for healthy growth of businesses. Not only it provides a functional environment for businesses, but also allow the business owners to avail lower tax benefits which is another major reason to think about a Labuan offshore if you are really looking forward to any offshore business opportunities. Having said this, Labuan has now become a financial hub and offers a highly skilled and experienced workforce that will surely add merits to your Labuan offshore and will foster the growth in a positive direction. Since Labuan is a leading financial hub, it provides extraordinary support for businesses to lead in any industries. Here in this blog we have highlighted to read more about its two major industries.
Labuan is one of the major tourist destinations which attracts a tremendous number of tourists every year. Since major tourists are domestic, the government wants to transform Labuan into a major international tourist destination and therefore has taken intensive steps for tourist development. As Labuan can offer a lot of natural beauty attractions, setting up a tourism business through Labuan offshore is not at all a bad decision which can help you increase the profits manifolds.
Oil and Gas
Labuan is a major petrochemical hub as declared by the Malaysian government. The Labuan has abundant oil and gas fields which bring a lot of opportunities if you want to set up a Labuan offshore in the oil and gas industry. Undoubtedly, the oil and gas will always be the major reason to foster the economy in Labuan as petrochemicals account for more than 70% of Labuan's total exports.
This was just a brief overview of two major industries in Labuan which are offering innumerable business avenues which will surely be a great support for any Labuan offshore. Apart from these two industries you can go through a thorough search and find other established industries and can learn about them.