Strong and robust economy
Malaysia is a market oriented economy supported by a well-developed financial and banking sectors including the Labuan International Business and Financial Centre (Labuan IBFC). English is widely used especially in business and professional services like accounting and legal. It also has a large local business community represented by numerous trade associations. Likewise,international businesses are also established and well represented by many business chambers and groupings.
Supportive Government policies
Always a pro-business, the Government has been active in promoting business and growing the economy by introducing liberal investment policies, attractive business incentives and sufficient protection of intellectual properties, among others. Political stability is a constant where the ruling party, which has been in Government since independence, continues to implement measures to support the economy and businesses.
Well educated workforce
Malaysia is filled with talented and educated workforce. The Government is also actively supporting their further growth and betterment by establishing many training centres and higher education institutions. Having an education background based on the English system, the level of proficiency among workers are also considerably good, where the language is even more widely used at higher level.
Modern and well maintained networks of highways, trunk roads and railways crisscross this country. There are also many modern seaports and airports strategically located to serve the needs of local and international business, backed by a highly established and experienced logistic and transportation industries.
In addition, the telecommunication infrastructures are also among one of the best in the region, serving not just business but also practically every facets and daily needs of the people. Mobile penetration are also high and internet speed are among the fastest in the region.
Malaysia is also dotted with over 500 Industrial Parks, Business Corridors and Free Zones loaded with incentives for companies to start business or expand existing ones.
Good quality of life
Against the backdrop of multi ethnicity, religious and cultural society, Malaysia has enjoyed a harmonious and peaceful life. Considered a food and shopping mecca it is a popular destination among tourists, local and international alike.
The people are friendly and the living environment is safe and comfortable. The housing are excellent too with abundant modern amenities, healthcare and medical facilities as well as excellent educational institutions including international schools for expatriate children.
In its effort to ensure that Malaysia remains an attractive business and investment destination, the Government continues to double its efforts to attract investment and drive productivity and innovation through political, economic and regulatory reforms. These efforts have received worldwide recognition through improved rankings by various international institutions.
For example, Malaysia has been ranked 18th by the World Economic Forum out of 140 economies in the recent Global Competitiveness Report. This is an improvement from last year where it was 20th out of 144 countries.
In the 2016 World Bank Doing Business Report, Malaysia was ranked 18th out of 189 economies for the easiest place to do business. In the 2015 World Competitiveness Yearbook compiled by Switzerland’s Institute for Management Development, it retained its ranking among the top 15 nations.
All these are testimonies to the Government’s efforts to continue supporting businesses both local and international.