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Malaysia

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Background

Since it became independent in 1957, Malaysia's economic record has been one of Asia's best. Real gross domestic product (GDP) grew by an average of 6.5% per year from 1957 to 2005. Performance peaked in the early 1980s through the mid-1990s, as the economy experienced sustained rapid growth averaging almost 8% annually. High levels of foreign and domestic private investment played a significant role as the economy diversified and modernized. Once heavily dependent on primary products such as rubber and tin, Malaysia today is a middle-income country with a multi-sector economy based on services and manufacturing. Malaysia is one of the world's largest exporters of semiconductor devices, electrical goods, solar panels, and information and communication technology (ICT) products.

Malaysia struggled economically during the 1997-1998 Asian financial crisis and applied several valuable lessons to its economic management strategies that contributed to the economy’s resilience to the 2008-2009 global financial crisis. After contracting 1.7% in 2009, Malaysia’s GDP grew 7.2% in 2010. Malaysian banks are well capitalized, conservatively managed, and had no measurable exposure to the U.S. sub-prime market. Malaysia maintains high levels of foreign exchange reserves and has relatively little external debt. The government continues to actively manage the economy with state-owned enterprises heavily involved in the oil and gas, plantation, ship building, steel, telecommunications, utilities, automotive, mining, and other sectors.

Holidays
Jan 1 - New Year's Day
Jan 23* - Hari Raya Haji (Feast of the Sacrifice)
Feb 1 - Federal Territory Day
Feb 9-11 - Chinese New Year
Feb 10* - Hari Raya Tussa (Islamic New Year)
2nd Saturday in March - Birthday of Sultan of Selangor
Apr 8 - Birthday of Sultan of Johor
Apr 15 - Declaration of Melaka as Historical City
Apr 19 - Birthday of Sultan of Perak
Apr 22* - Birth of the Prophet Muhammad
May 1 - Labour Day
May 7 - Hari Hol Negeri Pahang
May 23~ - Vesak Day (Birth of the Buddha)
May 30 & 31 - Kaanatan Harvest Festival
Jun 1-2 - Dayak Festival
Jun 4 - Official Birthday of HM the Yang di-Pertuan Agong
Jul 19 - Birthday of Yang di-Pertuan Besar of Ng Sembilan
Jul 20 - Birthday of the Sultan of Terengganu
Aug 31 - National Day
2nd Saturday in Sep - Birthday of Yang di-Petuan of Sarawak
Sep 16 - Malaysia Day & Birthday of Yang di-Pertua of Sabah
2nd Saturday in Oct - Birthday of Yang di-Pertua of Melaka
Oct 24 - Birthday of the Sultan of Pahang
Nov 12~ - Deepvali Festival
Nov 14-16* - Hari Raya Puasa (End of Ramadan)
Dec 25 - Christmas Day

Ps: Muslim festivals(*) are timed according to local sightings of various phases of the moon and the dates given above are approximations.Besides, these festivals' dates(~)given above are also approximations which are subject to change every new year. 

Phone Codes

Country Code: 60
Outgoing International Code: 00

Resources

Market Research

CIA - The World Factbook - Malaysia
This website indicates a wide range of detail information about Malaysia by introducing under 8 different fields as its geography,people, government, economy, communications, transportation, military, transnational issues.

About Malaysia
There is available to find out Malaysian general outlook on the issues of its social and business profile, passport/visa, money, accommodation, government, duty free, health and so forth.

MITI, Ministry of International Trade and Industry
Official website providing information regarding government's trade policy, trade relationships between Malaysia and other economies and regions and Malaysia's participation in regional and international trade organizations such as ASEAN and WTO.

MATRADE, Malaysia External Trade Development Corporation
External trade promotion arm of Malaysia's Ministry of International Trade and Industry (MITI); functions as a focal point for Malaysian exporters and foreign importers to source for trade related information.

Trade Information

Putra World Trade Center of Malaysia
On-line market place for overseas or foreign businesses wanted to buy Malaysian products or to sell their products to Malaysia.

 
 
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