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Asia - Indonesia
MALAYSIA
Malaysia was created in 1963 through the merging of Malaya and Sabah and
Sarawak in north Borneo. The country became independent in 1957 and was then
known as Malaya. Capital: Kuala Lumpur
The structural transformation of Malaysia's economy over the last 40 years
has been spectacular. Often dubbed the "lucky country" because of its
wealth of mineral resources and fertile soils, Malaysia did not rest on its
laurels but took decisive steps to progress from an economy dependent on
agriculture and primary commodities to a manufacturing-based,
export-driven economy spurred on by high technology, knowledge-based
and capital-intensive industries.
Today, Malaysia offers the world its Multimedia Super Corridor (MSC)
which brings together a legislative framework and a next-generation
telecommunications infrastructure in eco-friendly surroundings to create the
best environment for the development of multimedia industries.
Within less than two years, helped by selective exchange controls and the
pegging of the ringgit, Malaysia bounced back and went on track towards
economic recovery.
Overall, the economy grew better than expected at an average of 4.7 per cent per
annum during the period.
Malaysia is the 5th most competitive country in the world among countries
with a population of greater than 20 million according to the 2004 World
Competitiveness Yearbook released by the Institute for Management Development
(IMD) based in Lausanne, Switzerland. This is an improvement from the 8th
position that Malaysia held in 2003. Malaysia's ranking surpassed that of Japan
(10th), China (10th), Thailand (11th) and Korea (15th).
Malaysia has the largest Muslim population of any country in the World
with 88% of their population practicing the Muslim faith.
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