Malaysia rolls out 'Golden Pass' to lure unicorns and VC firms

KUALA LUMPUR -- Malaysia has rolled out new incentive packages to attract the world's leading startups and venture capital firms to the country, hoping to build a robust startup ecosystem that will spur growth.

"With the right investors and the right talent in Malaysia, we will make Malaysia the Southeast Asian base for global technology companies under the Unicorn Golden Pass. We want to attract global unicorns to enter Malaysia so that high-skilled and high-value jobs are created, besides developing a pipeline of future entrepreneurs and senior leaders in tech," said Economy Minister Rafizi Ramli in his keynote address during the KL20 Summit startup event in Kuala Lumpur on Monday.