One of the largest of Malaysia’s 13 states, Sabah is banking on an economic development strategy that aims to make the most of its strategic position in the South China Sea, the beauty of its landscape and the riches of its natural environment. The plan centres on the Sabah Development Corridor (SDC), one of five economic development zones...
The five-year development plan 11th Malaysia Plan (11MP), which runs from 2016 to 2020, was launched in 2015 and is considered to be the final and decisive step in Malaysia’s long journey to realise its aspirations of becoming an advanced economy. This will mean increasing its GDP per capita to surpass the critical threshold of $15,000....
The year 2015 will be remembered as the moment when the Malaysian government embarked on an ambitious and uncharted course to replace oil revenues with a consumption tax known as the goods and services tax (GST), which is set at 6%. According to the 11th Malaysia Plan (11MP), the introduction of the GST is expected to bring in a revenue stream...
Resource rich and export-oriented, Malaysia’s economy has endured another major test in resilience, with a global slump in commodities and China’s slowdown reducing revenues from the key sectors of energy, palm oil and manufacturing. In 2015 the local currency, the ringgit, saw the biggest sell-off since the 1997 Asian financial crisis. Yet...
Despite a heated domestic debate on the costs and benefits of the Trans-Pacific Partnership agreement (TPP), the Malaysian government has been forging ahead with its plan to join the US-led regional trade agreement, which is expected to have a high impact on export and import flows. A comprehensive document, the TPP covers 30 chapters, ranging...
With a constitutional monarchy and a democratic, Westminster-style parliamentary system of government, Malaysia has enjoyed many years of stability and growing prosperity since it achieved independence from Britain in 1957. The country is governed under a federal system, with many powers devolved to the state level. While it has inherited much...
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