- Malaysia is one of the fastest growing economies in the region;
- Malaysia is a significant export market for Australia and our 12th largest trading partner;
- It is also our third largest trading partner in ASEAN; and
- Total trade in 2007-08 was $14 billion (2.9 per cent share of Australia's total trade).
Malaysia is competing hard with other countries in the region to provide a pro-business environment. To this end the government has relaxed foreign ownership laws in the manufacturing sector and has also implemented a range of incentives to attract investors in priority areas such as operational headquarters, regional distribution centres and international procurement centres. The government has also invested heavily in infrastructure to facilitate both efficient business and a high standard of living, particularly in the major centres.
Opportunities exist in the following areas:
- Oil and Gas: oil companies will invest heavily over the next 5-10 years to develop new discoveries in deeper waters;
- Education and training: the Government is making significant investments to help Malaysia reach "developed" status by the year 2020;
- Information and Communication Technology: major local players are increasing their investments in the latest ICT technologies;
- Agriculture: the Government is encouraging activity in horticulture and animal husbandry to stem the increase in food imports;
- Environment: Government efforts to overcome weaknesses in sub-sectors such as Municipal Solid Waste and Air Pollution;
- Power: transmission and distribution deficiencies in Peninsula Malaysia
- Water: opportunities exist around Non-Revenue Water and the deterioration in water quality for end-users;
- Aerospace: Government promoting collaborations with foreign companies with incentives available in the areas of MRO, Training and Manufacturing;
- Construction: further investment expected in land, sea and air infrastructure under the 9th Malaysia Economic Plan (2006-2010)
- Healthcare and Medical: Ministry of Health looking to upgrade and restructure health services to cope with increasing demands and ageing population.