Malaysia’s national fruit, the durian, has been celebrated for its cultural significance for thousands of years, yet the country is also looking ahead to the future.
I hadn’t been to Kuala Lumpur for a long time, but my recent trip to this vibrant, dynamic city was enlightening. In my piece, I share my observations on:
- ‘Tiger Cub’ Malaysia: Asia’s more high-tech and developed countries, such as Singapore and Taiwan, have long been in the spotlight but Malaysia’s economy is growing and its outlook is evolving.
- A new political era: Anwar Ibrahim assumed the post of Prime Minister in 2022, after a long period of corruption and political turbulence. His new government has brought much-needed political stability, with foreign direct investment also returning.
- Geopolitical developments: as the world pivots away from China as a manufacturing hub, Malaysia is benefitting from friendshoring, nearshoring and ‘China+1’, with multinational corporations relocating their assembly and tech semiconductor supply chains there.
- The role of SMEs: small and medium-sized enterprises are the fastest growing segment of the market and are playing a crucial role in the country’s economy. I was encouraged by up to a 100% hit rate in meeting women in C-suite roles.
Overall, being back in Malaysia was an eye opener. It is clearly a country that is changing and moving with the times. With capital flows picking up, there will be a bright future for dynamic and innovative businesses, and I will be watching the investment landscape with interest.