Globally, Islamic Finance makes up US$ 1.67 trillion which is 1% of all the US$124 trillion financial assets. Malaysia’s Islamic Banking industry holds US$ 69 billion in assets which is 6% of the Global Islamic Banking Market. Malaysia’s Islamic Banking Industry is experiencing a growth rate of 18-20% annually which is the fastest growing industry within the financial sector.
The ICT industry in Malaysia serves as a chassis upon which its knowledge based economy is built on. This is an integral part of the economy as it plays a vital role in both the private and public sectrors.
The manufacturing sector is considered the sector that paved the way to the modern-day Malaysia. Manufacturing in Malaysia began during the late 70’s as the economy transitioned from agricultural sectors. Ever since, the sector is an integral part of Malaysian economy which accounts for over 20% of total GDP. Over the years due to the lower labour costs offered by countries like China, Malaysia has lost some of its competitive advantage in the sector. The following incentives are made available for companies setting up their manufacturing plants in Malaysia:
Education has always been a deeply contentious matter nationally, with a general consensus that the system needs to be improved. The government understands that education plays a leading role in achieving its goal of becoming a service oriented economy and has opened up the education system and encourages foreign investments at all levels of education (primary to tertiary).
Malaysia’s education system operates in a two-tier system (private and public). Due to quality depreciation in public education, the demand on the private system (often UK-based) has significantly increased. Universities such as Nottingham and Southampton establishing their campuses in Malaysia and the prevalence of GCE A-Levels are indicative of the growing demand.