Editor’s Note
This article outlines Malaysia’s emerging potential as a global hub for physical gold trading, highlighting its pro-business policies, established ecosystem, and forthcoming industry standards.
(Kuala Lumpur, 3rd) With a pro-business policy environment, a complete industry ecosystem, and the upcoming “Malaysian Gold Industry Principles” (MGIP), Malaysia possesses strong potential to become a global physical gold trading hub.
Datuk Wira Ng Jun Hao, President of the Malaysia Gold Association (MGA), stated that Malaysia’s advantages include consistent government policies that are driving the healthy growth of the gold industry.
He made these remarks at a press conference for the Malaysia Gold Conference held today.
Ng Jun Hao pointed out that the domestic precious metals industry is expanding rapidly, employing about 250,000 people across the entire value chain from trading and retail to manufacturing and related services.
He stated that the Malaysian Gold Industry Principles are expected to be officially launched in the third quarter of this year. This will play a key role in strengthening governance, transparency, and confidence in the domestic gold market, particularly in addressing quality standards and responsible business practices between traders and retailers.
Ng Jun Hao added that although this initiative is voluntary, it will help shape a more credible and standardized gold trading ecosystem.
The Malaysian Gold Industry Principles will serve as a self-regulatory foundation for Malaysia’s precious metals industry, covering responsible sourcing, ethical conduct, consumer protection, and aligning with global compliance expectations.
He concluded by noting that these principles were developed in collaboration with key stakeholders and referenced frameworks established by the World Gold Council. This aims to enhance confidence across the entire ecosystem while solidifying Malaysia’s position as a well-governed and globally connected precious metals hub.