The First Half of 2024 Sees Malaysia Approving Up to RM160 Billion Worth of Investments From January to June 2024 (1H 2024), Malaysia approved RM160 billion in investments. This is equivalent to an 18% year-over-year increase across the services, manufacturing, and primary sectors. The statement was made official by the Malaysian Investment Development Authority (MIDA).…
Malaysia’s Government Rams Up Measures to Strengthen Its Business-Friendly Ecosystem Malaysia’s government is ramping up its ongoing efforts to create a business-friendly ecosystem in the country with initiatives aimed at showcasing the effectiveness of the MADANI policies. The MADANI Economy framework is the government’s blueprint for building a more equitable socio-economic landscape, increasing incomes, lowering…
Malaysia’s Journey to Becoming a Leading Healthcare Destination by 2025 Malaysia is making huge leaps in its goal to become a premier healthcare destination by 2025. The Malaysian Healthcare Travel Council (MHTC) recently reported a marked increase in the number of health tourists. Similarly, figures show that the healthcare tourism sector generated RM2.25 billion in…
Economic Pact Between China and Malaysia Gets Five Years Renewal Malaysia and China have decided to extend their five-year agreement to cooperate in trade and the economy. During a trip to Malaysia, Chinese Premier Li Qiang signed an economic pact to strengthen diplomatic ties between the two nations as they commemorate 50 years of diplomatic…
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…