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JS-SEZ Cut Tax Rates to Benefit Businesses and Knowledge Workers The newly established Johor Singapore Special Economic Zones (JS-SEZ) results from Malaysia and Singapore’s collaborative efforts to attract quality investments. The JS-SEZ offers incentives such as cut tax rates for businesses and knowledge workers. As such, recently, in collaboration with Malaysia’s finance ministry, the Johor…
Singapore and Malaysia to Conclude Vast Economic Zone Agreement Malaysia and its neighbour Singapore are in talks to finalise an agreement that will create a vast economic zone linking both border regions. Though it has faced its fair share of delays since 2023, the vast economic zone is expected to create 100,000 jobs and contribute…
New Tourism Strategy Targets 35.6 Million Tourists for Malaysia by 2026 A new tourism strategy under the Visit Malaysia 2026 campaign aims to attract 35.6 million tourists to the country. To promote its diverse attractions, the campaign will use a fresh logo, mascot, theme song, and airline livery. New Goals for 2026 Revenue The…
Malaysia’s economy has grown by 5.3% in the third quarter of 2024, following a 5.9% expansion in the previous quarter. This growth was fueled by strong investments and a steady improvement in exports. What Drove the Growth? Several factors were behind it, including: Investments on the Rise Spending on structures, Machinery and Equipment (M&E)…
Social and Economic Gains Drives Malaysia’s Wellbeing Index Up to 0.7% in 2023 Malaysia’s Wellbeing Index (MyWI) rose 121.3 points in 2023, thanks to its ability to adapt to a post-pandemic landscape. Transportation experienced the highest growth, with the new KTM Komuter stations playing a vital role in this. Similarly, the social sub-composite index…
The Minimum Wage Raise To Benefit Employers And Employees The Malaysian government recently announced that the minimum wage will be raised from RM1,500 to RM1,700 per month. The new minimum wage will take effect 1st February 2025. However, the effective date only affects employers with five workers or more. As for employers or businesses…
New Investment Incentive Framework Will Focus on High-value Investments In Malaysia’s recent Budget 2025, the Prime Minister introduced a new investment incentive framework to encourage high-value projects. He announced that the government will implement the framework in the third quarter of 2025 and offer tax breaks for exports of integrated circuit (IC) design operations as…
Malaysia Home to Medtech Hub in Southeast Asia Malaysia was recognised as Southeast Asia’s top medtech hub at the Malaysia Medtech Industry Summit 2024 in Penang. The Medical Device Industry Status and Outlook 2024/2025 report highlighted this achievement. The Malaysian Investment Development Authority (MIDA) and the Association of Malaysian Medical Industries (AMMI) jointly unveiled the…
Tax Breaks for Malaysia’s Forest City Financial Zone with Incentives for Global Businesses To attract new business and talent, Malaysia has introduced various tax breaks for the Forest City Financial Zone. This zone is part of the larger smart city project in Johor (near the Singapore border). Forest City Financial Zone is a futuristic urban…
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).…