The document discusses amendments to Malaysia's Professional Acts to liberalize foreign participation in professional services. It notes Malaysia's international trade commitments require allowing 49-51% foreign equity in professional services by 2008-2010, and 70% by 2015. Current restrictions on foreign professionals and firms are an issue. Liberalization could improve competitiveness but also brings risks. Striking a balance is important. The document recommends a two-tier registration system for engineers as one change to modernize the Professional Acts in line with Malaysia's development goals and trade obligations.