Malaysia is the second most developed and competitive country in Southeast Asia. To be more specific, it ranked 27th on the World Economic Forum’s Global Competitiveness Index in 2019.
English is widely spoken, especially in the business sector, making it easy for foreign businesses to develop their network and greatly benefit from Malaysia’s various opportunities.
The country also ranked 12th globally for Ease of Doing Business by the World Bank Group in 2020. Thus, the favourable business environment has made the country one of the world’s top investment destinations for offshore manufacturing operations. Malaysia has attracted more than 5,000 foreign companies from more than 40 countries to establish their operations in the country. Many of them have also expanded and diversified their operations in the country, reflecting their confidence in Malaysia as a site for their business ventures.
In 2019, the country’s GDP was worth USD 364.70 billion, and the services and manufacturing sectors primarily led the economy. Foreign investors are allowed to fully own companies in Malaysia with few sector-specific limitations.
GDP growth (2019)***