What other countries are dominated by Malaysia

MALAYSIA

Malaysia, located in the heart of the ASEAN countries, is the ideal starting point for one of the largest, most populous and fastest growing regions with astonishing potential. The constitutional electoral monarchy with 33 million inhabitants and a GDP of around 370 billion US dollars (2019e) has been classified by the World Bank as the sixth-friendliest country in the world in which to do business (ahead of Great Britain, Australia and South Korea) and is in first place 15 (out of 190) in the Ease-of-doing-Business Index. Malaysia is also classified in the second lowest Hermes risk category. In addition to Malay, the official and business language is English.

The infrastructure in Malaysia is one of the best in Asia. The increasingly digital telecommunications network, five international airports (all with air cargo facilities), well-maintained highways and seven international seaports make Malaysia an ideal stepping stone into the Asia-Pacific market.
Industry in Malaysia is predominantly located in the over 500 industrial areas and free zones. There are also specialized parks that meet the needs of specific industries, e.g. high-tech or ecommerce parks. Export branch No. 1 is electronics / electrical engineering (approx. 36% of all exports), chemical products, petrochemicals, oils, fats, waxes and gases (approx. 25%) and machines (5%). The average wage for a worker is $ 900-1000 per month.

MALAYSIA AS ACCESS TO A 640 MILLION INHABITANTS MARKET

The countries of the Association of Southeast Asian Nations (ASEAN) have a population of over 640 million and generate around 3 trillion US dollars (2018) annually. The area is forecast to grow by over 5% annually through 2022, which will result in ASEAN becoming the fifth largest economy in the world. Future industries such as robotics, AI, renewable energies, medical technology and semiconductor production are the fastest growing industries in ASEAN countries. The trade war between the US and China is accelerating the trend of relocation of companies from China to Southeast Asia, which has persisted for years. With exports estimated at over US $ 309 billion (US $) in 2017, the ASEAN countries combined were the world's second largest electronics exporter after China. Malaysia, Vietnam, the Philippines, Thailand and Indonesia in particular have brought important processes into the country. As a result, Malaysia is actually the largest exporter in Southeast Asia with a little less than US $ 66 billion, and with Singapore dominates the semiconductor supply chains in the region.

Basic indicators

 

  • Area: 330,290 sq km
  • Population: (2018) 32.3 million
  • Political system: federal, parliamentary electoral monarchy
  • Territorial structure: 13 states
  • Capital: Kuala Lumpur
  • Official language: Malay, second language English
  • Currency: Ringgit (MYR)
  • Annual average exchange rate (2018): 1 euro = 4.82 MYR

 

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Direct contact
Niels Strohkirch
BVMW office in Malaysia
Expandeers Global Network GmbH
Kattrepelsbrücke 1
20095 Hamburg

Phone: +49 40 8060 3670
Email: malaysia (at) bvmw.de


Downloads
Signpost Malaysia
Country report Malaysia