Economy

Malaysia Economy

Resource rich and export-oriented, Malaysia’s economy has endured another major test in resilience, with a global slump in commodities and China’s slowdown reducing revenues from the key sectors of energy, palm oil and manufacturing. In 2015 the local currency, the ringgit, saw its biggest sell-off since the 1997 Asian financial crisis. Yet economic data continued to suggest business as usual. With a flexible currency regime, ample liquidity in domestic banks and alternative sources of growth, the country was able to absorb the external shocks. This chapter contains interviews with Abdul Wahid Omar, Minister in the Prime Minister’s Department; Zakri Abdul Hamid, Science Advisor to the Prime Minister and Joint-Chairman, Malaysian Industry-Government Group for High Technology; Ahmad Tajussin Ali, Chairman, UEM Group and Construction Industry Development Board and Joint-Chairman, Malaysian Industry-Government Group for High Technology; and Saw Choo Boon, President, Federation of Malaysian Manufacturers, and Co-Chair, Special Task Force to Facilitate Business.

Cover of The Report: Malaysia 2016

The Report

This chapter is from the Malaysia 2016 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Zakri Abdul Hamid, Science Advisor to the Prime Minister; and Joint-Chairman, Malaysian Industry-Government Group for High Technology
Zakri Abdul Hamid, Science Advisor to the Prime Minister; and Joint-Chairman, Malaysian Industry-Government Group for High Technology: Interview