Economy of Malaysia

Malaysia is basically a free-enterprise economy based on primary products, and is fast heading towards full industrialisation. The country is among the world’s largest producers of rubber and palm oil. Other major exports include electrical goods, electronic components, manufactured goods, petroleum, timber and pepper.

Vision 2020 is a tional agenda that aims to develop the country into a fully industrialized nation by the year 2020. Agencies such as the Malaysian Industrial Development Authority (MIDA), Malaysian External Trade Development Corporation, Malaysian Industrial Estates Sdn Bhd are helping to speed up the industrialization process.

The Multimedia Super Corridor is Malaysia’s attempt to embrace the Information Age. Companies located in this 15km by 50km long corridor are allowed to operate under ideal conditions. Tourism is another important pillar of the economy.