Malaysia

Malaysia’s automotive insurance sector has seen several important improvements in the past few months, with the industry’s regulator issuing a series of directives designed to strengthen policyholder protection, rationalise costs and speed claims processing. The industry has generally welcomed these changes, though some experts have suggested that full compliance could be hard to achieve.

Some important changes for the Malaysian aviation sector lie ahead, after the recent announcement by the main shareholders of the country’s two major airlines that they are beginning a new partnership.

The Malaysian government is calling on the private sector to speed up the roll out of new information and communication technology (ICT) services, a move that will support the state’s long-term strategy of promoting a knowledge-based economy.

During his first official visit to the UK this month, Prime Minister Najib Abdul Razak showcased his country as a profitable destination for foreign investment by companies – especially those in the UK, which already have strong historical and business ties with Malaysia.

The agricultural sector is playing an increasingly important role in Malaysia’s economy, not only helping the country to achieve food security for local consumption, but also generating strong levels of export earnings. The palm oil industry leading the way here, though lingering concerns over sustainable production and labour shortages could hamper growth.

The establishment of a new school for logistics training has set the supply chain industry on course for a high-tech future, fulfilling one of the key goals of the long-term master plan for the sector and reinforcing several recent positive developments.