As Malaysia has a vast amount of natural resources such as minerals and fertile soils, its economy progress largely on areas such as agriculture and primary commodities. Over the last 40 years, Malaysia’s economy has progressed to be also strong in other areas such as manufacturing, exports spurred on by high technology, knowledge-based and capital-intensive industries.
In 2007, as the global climate changes due to the persistently high in crude oil prices, inflationary pressures and monetary tightening resulting in higher interest rates that would in turn affect the overall growth fir the second half of the year. Malaysia remains unfazed and achieved a healthy growth rate for that particular year, given the nation’s diverse economic structure and strengthened domestic fundamentals. The country thrive in terms of external trade, having a low unemployment rate as well as strong international reserves and high national savings.
Many investors are attracted to Malaysia due to the government’s commitment to maintain a healthy business environment that gives companies an opportunity to profit or grow. This is done through the government’s constant efforts of obtaining feedback from the business community by using various channels such as regular government-private sector dialogues. These channels enable various people in the business community to voice out their opinions towards the government policies implemented and how to improve them.
For all of these reasons, a business owner should consider starting a business in Malaysia. Doing so does not have to take long. The process is not invasive. It is also likely that businesses will find the process to be much more affordable than opening their business domestically. This alongside other benefits such as overall affordability and access to key talent makes this type of move a sensible one for most types of businesses. It is a good idea to talk about the specifics and the implications for your business with an expertise in international company formation.