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…
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).…
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…