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Economy :
Oil - exports: |
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546,300 bbl/day (2005)
country comparison to the world: 28 |
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Oil - imports: |
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308,500 bbl/day (2005)
country comparison to the world: 36 |
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MALAYSIA
Population :25,715,819 (July 2009 est.)
(country comparison to the world: 47)
Age structure: |
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0-14 years: 31.4%
(male 4,153,621/female 3,914,962) 15-64 years: 63.6%
(male 8,210,373/female 8,143,043) 65 years and over: 5% (male 569,245/female 724,575) (2009 est.) |
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2008, was a very challenging year to the global economic environment arising from the financial crisis in the US which had its contagion effects in Europe and Asia. In addition, the fluctuation in oil price and sharp increase on food prices also impacted the major economies of the world.
Despite these adverse circumstances, the Malaysian economy registered a gross domestic product (GDP) growth rate of 4.6 per cent for 2008, supported by domestic demand and continued expansion in private and public consumption. The economy is expected to record positive growth rate in 2009 as the Government is optimistic in weathering these challenges.
The services sector recorded the highest growth at 7.9 per cent from January to September 2008, followed by the manufacturing sector which grew by 4.8 per cent.
Malaysia, strategically located in the heart of South East Asia, offers a cost-competitive location for investors intending to set up offshore operations for the manufacture of advanced technological products for regional and international markets.
Supported by a market-oriented economy and pro-business Government policies, Malaysia offers investors a dynamic and vibrant business environment with the ideal prerequisites for growth and profits. Malaysia's key strengths include well-developed infrastructure and productive workforce. A politically stable country with a well-developed legal system, Malaysia also provides attractive incentives for investors.
Technological advancement has become an integral part of Malaysia's growth as an industrialised nation. With the help of technology, Malaysia is steadfast in providing for the modern day requirements of investor companies based in the country. Malaysia is one of the most technologically developed countries amongst industrialising nations in the ASEAN region. The nation's persistent drive to engage modern technologies proves to be a great advantage to manufacturers in Malaysia.
Infrastructure in Malaysia is designed to serve the business community; it is one of the best in Asia. Telecommunications network served by digital and fibre optic technology, five international airports (all with air-cargo facilities), well-maintained highways and seven international seaports make Malaysia an ideal springboard to the Asia-Pacific market.
Industries in Malaysia are predominantly located in over 200 industrial estates and Free Zones developed throughout the country. These zones are categorised as export processing zones, which cater to the requirements of export-oriented industries. There are also specialised parks that have been developed to cater to the needs of specific industries.
One of Malaysia's greatest assets is her human resources. The workforce here is young, educated and productive, proving to be one of the best in the region. The Government's emphasis on human resource development ensures the continuous supply of manpower to meet the needs of the expanding manufacturing and services sectors.
As a result of perceptive foresight, strategic planning and abundant resources, Malaysia offers investors a wide spectrum of investment opportunities. The technologically-inclined economy of Malaysia is proven through the country's involvement in advanced electronics manufacturing, R&D, biotechnology, photonics, logistics, design, innovation and a highly automated manufacturing sector, to name a few. The Government's objective is also to make Malaysia a hub for other value chain activities, such as R&D, design and development (D&D), procurement, logistics, distribution and marketing, business support services and shared services.
The conducive business environment in Malaysia has made the country one of the world's top investment destinations for offshore manufacturing operations. Malaysia has todate attracted more than 5,000 foreign companies from more than 40 countries to establish their operations in the country. Many of them have also expanded and diversified their operations in the country, reflecting their confidence in Malaysia as a site for their business ventures.
The Malaysian Industrial Development Authority (MIDA) is the first point of contact for investors who intend to set up projects in the manufacturing and services sectors in Malaysia. With its headquarters in Malaysia's capital city of Kuala Lumpur, MIDA has established a global network of 19 overseas offices covering Asia, Europe, US, and Australia to assist investors interested in establishing manufacturing projects and services.
Source : CIA Factbook - MIDA
