The spectacular growth of Malaysian economy and surging government funds are making Malaysia more attractive. The transformations are too transparent on the political front, the public sector and among Malaysian business entities.
Rising investments are pushing growth across different industry verticals. Emphasis is being placed on engaging the country’s emigrants to the challenges of competing in a new global economy characterized by growth and innovation.
The government’s initiatives in introducing programmes like 1Malaysia to promote ethnic harmony, national utility and efficient governance, the Government Transformation Programme (GTP) to strengthen public services and the 10th Malaysia Plan 2011-2015 are all set to drive the country’s development over the next five years. All these plans are targeted to enable Malaysia emerge as a developed high income nation.
According to the data showcased by the 2010 World Competitiveness Yearbook (WCY), Malaysia has bagged an index score of 87,228, securing a position among the 10 most competitive countries in the world.
Malaysia offers much lower cost of living than its neighboring countries like Singapore and Hong Kong. Property prices are relatively lower too. Infrastructure is improving rapidly, and utilities are dependable.
Also, with the emergence of companies like Microsoft, Google, FBC etc., a significant growth of business market can easily be sensed in the country. And there are many more set to make presence felt in the Malaysian market. Though many Malaysians working abroad have already returned home to make an optimal use of the new prospects flourishing in the business sector, the country is still looking forward to attract more of its natives settled abroad.
Likewise, other Southeast Asian countries like Philippines and Singapore are advancing its effort to attract back its manpower working overseas.
