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…
Malaysia’s FDI In the First Nine Months of 2023 Surpasses Expectations Malaysia’s FDI in the first nine months of 2023 has exceeded expectations, recording RM225 billion worth of sanctioned investments. This has surpassed the country’s annual goal, according to MIDA. Foreign direct investment was 55.9% responsible for the overall sum. This highlights that Malaysia remains…
Malaysia Sees Rise in Business Confidence Indicator in the Fourth Quarter of 2023 The business environment in Malaysia is looking good as confidence surged by 3.2% in the last quarter of this year, as reported by DOSM. A stronger environment looks likely if this business confidence indicator is anything to go by. Experts are predicting…
Lowest Inflation Rate of 1.8% Recorded by Malaysia in October 2023 Malaysia recorded its lowest inflation in October this year. At a rate of 1.8%, this was the lowest since April 2021 and it was driven by moderate price hikes in the non-alcoholic beverage and food sector. Malaysia’s lowest inflation rate beat Indonesia (2.6%), the…
Malaysia’s Natural Rubber Production Rises 9.7% in August Malaysia’s Department of Statistics (DOSM) revealed that Malaysia’s natural rubber production was up by 9.7% (31,309 tonnes) in August this year. This is an improvement from July’s record of 28,533 tonnes. However, compared to a year ago (August 2022), this was a drop of 16.9%. Malaysia’s natural…
Malaysia Improves its Position to 18th in 2023 Global Financial Inclusion Index Malaysia has risen two spots to the 18th place in the 2023 Global Financial Inclusion Index. It’s a comprehensive index released by Principal Financial Group (Principal) and the Centre for Economics and Business Research (CEBR) annually. Positive Shifts in Southeast Asia Consumer…