Editor’s Note
This article highlights Malaysia’s emerging potential as a global hub for physical gold trading, driven by supportive policies and a structured industrial framework.
KUALA LUMPUR, Feb 4 (NNN-BERNAMA) — Malaysia has great potential to become a global hub for physical gold trading, thanks to a business-friendly political environment, an integrated industrial ecosystem, and the upcoming Malaysia Gold Industry Principles (MGIP).
Datuk Seri Louis Ng, President of the Malaysia Gold Association (MGA), stated that Malaysia’s strengths include consistent government policies that drive the robust growth of the gold industry.
he said during a press conference at the Malaysia Gold Conference held today.
Ng stated that the national precious metals industry has expanded rapidly, employing nearly 250,000 people across the entire value chain, from trading and retail to manufacturing and related services.
He affirmed that the MGIP, whose official publication is scheduled for the third quarter of this year, will be crucial for strengthening governance, transparency, and trust in the domestic gold market, particularly by addressing quality standards and responsible business conduct among traders and retailers.
he explained.
Ng stated that the initiative, while voluntary, will contribute to creating a more reliable and standardized gold trading ecosystem.
The MGIP will serve as Malaysia’s self-regulatory foundation for the precious metals industry, encompassing responsible sourcing, ethical conduct, consumer protection, and alignment with global compliance expectations.
He added that the principles were developed through collaboration with key stakeholders, including frameworks established by the World Gold Council, to foster trust throughout the ecosystem while reinforcing Malaysia’s position as a well-governed and globally aligned precious metals hub.
— NNN-BERNAMA