Economy

Malaysia is supported by abundant natural resources, in particular offshore oil and gas, and foreign investment-friendly policies have nurtured a globally competitive electrical and electronics industry, while a strong banking system has financed rapid growth in consumer sectors and construction. The country has much reason for optimism through its successful transition to the top-tier in the World Economic Forum’s “Global Competitiveness Report 2013-14,” which ranked Malaysia 24th of 148 countries. The ranking implies the country already has policies and business conditions in place that are comparable to many advanced economies. The country’s biggest challenge is to channel its growing financial capital into more entrepreneurial companies able to compete against peers in the global arena. This chapter contains interviews with Ali Hamsa, Chief Secretary to the Government; and Johan Mahmood Merican, CEO, TalentCorp. It also includes a viewpoint from Syed Haizam Jamalullail, Vice-President, Malaysia-America Foundation (MAF).