Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.
Malaysia’s business environment is governed by several regulations to maintain an efficient and competitive private sector. The country is considered an easy and cost-competitive place for doing business, and it is ranked 12th globally on Ease of Doing Business by World Bank Group 2020. This ranking shows a continued improvement from 2019 (ranked 15th) and 2018 (ranked 24th), sending a signal to the global community that Malaysia is “open for business”.
The government and private sector in Malaysia understand the need to embrace a country-wide digital transformation. The digitalization of processes across all major industrial sectors will be a decisive factor for securing Malaysia’s role in the future global economy. The country aims to be a regional hub for digital and procurement industries. In 2019, the government released one of the most aggressive stimulus budgets to support these objectives. The sudden government transition and the global pandemic in 2020 will be one of the biggest challenges faced by Malaysia as the country attempts to carve out its place in the global economy. If the successful government response to the global pandemic is any indication of the future direction of the country, there is optimism that Malaysia is heading in the right direction.
Some top sectors we will explore in this report include:
• Equipment and Machinery
• Technology and ICT
• Medical Devices
• Environmental Technologies