Decades of strong industrial growth and political stability have made Malaysia one of Southeast Asia’s most vibrant and successful economies.
Malaysia is strategically located across the Straits of Malacca and the southern part of the South China Sea. The country is a federation of 13 states and three federal territories. It is divided into two geographical regions: the peninsular region, or West Malaysia, which borders Thailand to the north and Singapore to the south; and the East Malaysia region bordering Kalimantan, Indonesia and Brunei.
The Malaysian economy enjoys a competitive advantage in producing and processing primary products due to an abundance of natural resources including petroleum, tin, timber, copper, iron, ore, natural gas, and bauxite. This is combined with world-class transport and telecommunications infrastructure.
- Prime Minister: Muhyiddin Yassin
- Capital city: Kuala Lumpur
- Total population: 31.95 million
- Languages: Bahasa Malaysia, English, Chinese, Tamil, Telugu, Malayalam, Panjabi, Thai
- Religions: Sunni Muslim 61.3%, Buddhist 19.8%, Christian 9.2%, Hindu 6.2%, Other 3.4%
- Monetary unit: Ringgit (MYR)
- Natural resources: tin, petroleum, timber, copper, iron ore, natural gas, bauxite
- Major exports: Semiconductors and electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals, solar panels
- Major imports: Electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals
Malaysia is a founding member of ASEAN and joined in August 1967. It offers a low-cost business environment, high skill levels and relatively low salary costs for qualified professionals and executives. The lifestyle, climate, educational opportunities and the availability of a pool of multilingual professionals competent in English and the major Asian languages are key advantages. Malaysia is also a prime tourist destination offering unique traditional attractions amidst modern-day development.
Additionally, Malaysia introduced special taxation and financial incentives to encourage foreign investment, in particular into research and development and promoted activities such as manufacturing, information and communications, biotechnology, healthcare, education, and industrial related technology.