Strategically located in the middle of the global trade route in Southeast Asia, Malaysia has transformed itself from an economy based on agriculture and natural resources like rubber and tin to one based on industry and technology. Through numerous measures taken by the Government, the economy was diversified until Malaysia became one of the major global manufacturer and exporter of electrical and electronic products and producer of palm oil, petroleum products and others. The people meanwhile grew together with it to transform into an upper middle class society enjoying a considerably good living condition against the backdrop of multi-ethnicity.
But the Government is not sitting on its laurels. It continues to grow and diversify the economy further to become one based on high technologies and services by promoting new sectors like information technology, biotechnology and high tech manufacturing and services. Countless measures and strategies have been implemented and many more are being formulated by the Government to achieve this goal such as the New Economic Policy, The Economic Transformation Programme, as well as through offer of numerous incentives to attract foreign businesses and expertise. The ultimate aim is for Malaysia to finally achieve a high income nation status by 2020.
Hence, against this backdrop Malaysia should sit among the top priority list of destinations for international and local businesses alike to consider.
For more information, please read on Why Malaysia should be your preferred business destination?