The Professional Services Development Corporation (PSDC) was established after 22 professional bodies representing the professional services industry presented a memorandum entitled “Challenges Faced By the Services Industry As a Result of Globalisation and Liberalisation Pressures With Emphasis on Professional Services” to the National Economic Action Council (NEAC) in 2000.

The memorandum proposed, among other things, the establishment of PSDC and National Professional Services Export Council (NAPSEC). The Malaysian cabinet subsequently approved the establishment of both bodies in May 2001. PSDC was incorporated on 30th April 2002 by Minister of Finance Incorporated  (MOF Inc) as a private limited company under the Companies Act 1965.

PSDC was thus established to accelerate the capacity of Malaysian professional service providers.