Malaysia Sets Its Sights On 3,000 Smart Factories by 2030 Malaysia has set a target for itself to set up 3,000 smart factories by 2030 under the New Industrial Master Plan 2030 (NIMP 2030). It is an initiative focusing on integrating advanced technologies to enhance productivity, create high-skilled jobs, and strengthen the country’s position in…
Strong Growth for Malaysia’s Economy Since 2024 Is a Good Thing A positive end for Malaysia’s economy last year, as it ended on a high note, thanks to the manufacturing and services sectors. These sectors helped drive the trends that enabled Malaysia to reach its target. Big Targets, Big Accomplishments The manufacturing sector’s sales…
Bilateral CEPA for Trade and Investment Opens up UAE to ASEAN and Malaysia to Middle East & North African Markets Malaysia has signed a CEPA for trade and investment with the UAE. It is the country’s 17th Free Trade Agreement and the first with a Gulf Cooperation Council member state. Respective delegations for the…
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…
