Malaysia's Labuan To Showcase Its Ability As An IOFC At ABC 2016

By Mohd Noor Azeery Idris LABUAN, Nov 10 (Bernama) -- The inaugural Asia Business Conference (ABC 2016) which begins Thursday is the perfect stage for Labuan to showcase its ability as an International Offshore Financial Centre (IOFC). ABC 2016 Chairman and Member of Parliament for Labuan Rozman Isli said Labuan was chosen as the location for the conference as it offers various financial products to spur economic growth in the ASEAN community. He said the two-day conference will feature 20 local and international speakers covering issues related to ASEAN economic integration. "Labuan's communication networks need to be improved to strengthen the island's regional and financial economic role. "Presently, Labuan offers comprehensive financial solutions for conventional and Islamic finance besides hosting leading financial institutions from over 80 countries," he said in an exclusive interview with Bernama News Channel here Wednesday. Rozman said former Philippine Finance Secretary Dr. Roberto de Ocampo will also present a keynote address on trading opportunities in the ASEAN region which will make Labuan the main destination in connecting the business community. "Thus, it is fitting that the third edition of the ABC is held in Labuan following its status as an IOFC," he added. -- BERNAMA