Cross Border SEZ Between Singapore and Malaysia Reaches Agreement The first cross-border SEZ (special economic zone) in Southeast Asia is on the brink of development, with Malaysia and Singapore anticipating a surge in new investment and a boost to economic growth. At a recent conference in Kuala Lumpur, Economy Minister Rafizi Ramli, representing Malaysia in…
Malaysia Targeting $100 Billion in Semiconductor Industry Investment Malaysia has set a target of acquiring investments worth at least $107 billion (RM 500 billion) for its semiconductor industry as part of its ongoing strategy to position itself as a leading global manufacturing hub. Malaysia’s semiconductor industry currently contributes 13% of the global testing and packaging…
Malaysia Is the Second-Largest Automobile Market in ASEAN, Surpassing Thailand Move over, Thailand. Malaysia is now the second-largest automobile market in Southeast Asia. Indonesia is still leading the way, although this new achievement marks a significant shift in the region. Malaysia’s automobile sales figures have surpassed Thailand’s for three consecutive quarters (January to March 2024).…
More Control Over Schedules With Flexible Work Arrangements For Malaysian Employees Human Resources Minister Steven Sim Chee Keong stated that Malaysian workers can apply for flexible working arrangements (aturan kerja anjal). According to him, the time, days, and location of work will be related to their employment, referring to Sections 60P and 60Q of the…
Malaysia and Uzbekistan Strengthening Bilateral Bonds Over Economic Matters As Malaysia and Uzbekistan approach their fourth decade of diplomatic relations, the two nations are committed to proclaiming their economic ties. The statement came from Malaysia’s Minister of Investment, Trade and Industry during the Uzbekistan-Malaysia Business Forum at the Silk Road Samarkand Complex, where both prime…
Malaysia’s Services Sector Generates RM2.3 trillion in Total Revenue for 2023 As reported by the Department of Statistics Malaysia, Malaysia’s services sector saw a surge in revenue in 2023, hitting the RM2.3 trillion mark. This is an 8.4% increase from last year’s RM2.1 trillion. Wholesale and retail trade contributed 7.7% to the boost, along with…
Strong Palm Oil Demand in Malaysia, Thanks to India and China Malaysia is anticipating strong palm oil demand this year, thanks mainly to China (9.1%), the European Union (7.1%), and India (17.4%). The Malaysian Palm Oil Board (MPOB) estimates crude palm oil production will hit 18.7 million tonnes. Addressing Challenges the Key to Success…
Malaysia Economic Growth Rate Climbs Between 4.5 to 5.5 Per Cent in 2024 Malaysia’s economic growth rate is predicted to improve further heading into next year, with the country’s gross domestic product (GDP) set to increase by 4.5 to 5.5 per cent in 2024, up from an estimated 4 per cent this year. IMF and…
Malaysia My Second Home Programme Requirements Are Now More Relaxed Malaysia reintroduces its renowned programme for expatriates to reside in Malaysia My Second Home (MM2H) with more relaxed conditions. The Minister of Ministry of Tourism, Arts and Culture, Datuk Seri Tiong King Sing, recently announced the programme’s relaxed conditions. The additional condition of Malaysia My…
Malaysia Grants 30-Day Visa-Free Entry for Indian Citizens In a significant move to boost tourism, Malaysia has announced the granting of a 30-day visa-free entry for Indian citizens, effective from December 1. Prime Minister Anwar Ibrahim announced during a Sunday speech at the People’s Justice Party congress, confirming that Chinese citizens will also enjoy the…