Malaysia is a growing and relatively open economy. In 2007, the economy of Malaysia was the 29th largest economy in the world by purchasing power parity with gross domestic product for 2007 was estimated to be $357.9 billion with a growth rate of 5% to 7% since 2007^[1] The Southeast Asian nation experienced an economic boom and underwent rapid development during the late 20th century. With a GDP per capita standing at USD13,000, it has, from time to time, been considered a newly industrialized country.^[2][3] An open economy is an economy in which people, including businesses, can trade in goods and services with other people and businesses in the international community at large. ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... PPP of GDP for the countries of the world (2003). ... Countries considered NICs as of 2007 The category of newly industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and economists. ...

As one of three countries that control the Strait of Malacca, international trade plays a large role in its economy.^[4] At one time, it was the largest producer of tin, rubber and palm oil in the world.^[5][6] Manufacturing has a large influence in the country's economy.^[7] A close-up map showing the Strait of Malacca separating peninsular Malaysia and the Indonesian island of Sumatra. ... This article is about the metallic chemical element. ... This does not cite any references or sources. ... Palm oil from Ghana with its natural dark color visible, 2 litres Palm oil block showing the lighter color that results from boiling. ...

Background

Early and colonial history

The Malay Peninsula and indeed Southeast Asia has been a center for trade for centuries. Various items such as porcelain and spice were actively traded even before Malacca and Singapore rose to prominence. The Malay Peninsula (Malay: Semenanjung Tanah Melayu) is a major peninsula located in Southeast Asia. ... Location of Southeast Asia Southeast Asia is a subregion of Asia. ... “Fine China” redirects here. ... For other uses, see Spice (disambiguation). ... This article or section does not cite its references or sources. ...

In the 17th century, large deposits of tin were found in several Malay states. Later, as the British started to take over as administrators of Malaya, rubber and palm oil trees were introduced for commercial purposes. Over time, Malaya became the world’s largest producer of tin, rubber, and palm oil. These three commodities along with other raw materials firmly set Malaysia's economic tempo well into the mid-20th century. This article is about the metallic chemical element. ... The Malay states are a group of nine states of Malaysia (all located in West Malaysia) which have hereditary Rulers. ... British Malaya was a set of states that were colonized by the British from the 18th and the 19th until the 20th century. ... This does not cite any references or sources. ... Palm oil from Ghana with its natural dark color visible, 2 litres Palm oil block showing the lighter color that results from boiling. ...

Post-independence

During the 1970s, Malaysia followed the footsteps of the original four Asian Tigers and committed itself to transition from reliance on mining and agriculture to manufacturing. With Japan’s assistance, heavy industries flourished and in a matter of years, Malaysian exports became the country's primary growth engine. Malaysia consistently achieved more than 7% GDP growth along with low inflation in the 1980s and the 1990s. The East Asian Tigers, sometimes also referred to as Asias Four Little Dragons, referred to the economies of Taiwan, Hong Kong, South Korea, and industrialization between the early 1960s and 1990s. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ...

Current GDP per capita grew 31% in the Sixties and an amazing 358% in the Seventies but this proved unsustainable and growth scaled back sharply to 36% in the Eighties rising again to 59% in the Nineties led primarily by export-oriented industries. ^[8]. The rate of poverty in Malaysia also fell dramatically over the years. However, its precipitous drop has been questioned by critics who suggest that the poverty line has been drawn at an unreasonably low level.^[9] Poverty in Malaysia is a controversial economic issue. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ...

Central planning has been a major factor in the Malaysian economy, as government expenditure was often used to stimulate the economy. Since 1955, with the commencement of the First Malayan Five Year Plan, the government has used these plans to intervene in the economy to achieve such goals as redistribution of wealth and investment in, for instance, infrastructure projects.^[10] The First Malayan Five Year Plan (1956 – 1960) was the first economic development plan launched by the Malayan government, just before independence in 1957. ...

A legacy of the British colonial system was the division of Malaysians into three groups according to ethnicity. The Malays were concentrated in their traditional villages, focusing mainly on agricultural activities, while the Chinese dominated Malaysian commerce. Educated Indians took up professional roles such as those of doctors or lawyers, while the less better-off worked the plantations.^[11][12] The Reid Commission which drafted the Malaysian Constitution made a provision for limited affirmative action through Article 153, which gave the Malays special privileges, such as 60% of university entrance (quota). However, after the May 13 incident of racial rioting in the federal capital of Kuala Lumpur, the government initiated more aggressive programmes aimed at actively establishing a Malay entrepreneurial class through direct intervention in the economy. The first five year plan that implemented these goals was the Second Malaysia Plan; its perceived heavy-handedness led to a new emphasis in the Third Malaysia Plan on a growing economic pie, so as to avoid robbing Peter to pay Paul. For the fish called lawyer, see Burbot. ... The Reid Commission was an independent commission responsible for drafting the Constitution of the Federation of Malaya prior to Malayan independence from Britain on 31 August 1957. ... The Constitution of Malaysia, comprising 181 articles, is the supreme law of Malaysia. ... Manifestations Slavery Racial profiling Lynching Hate speech Hate crime Genocide (examples) Ethnocide Ethnic cleansing Pogrom Race war Religious persecution Blood libel Paternalism Police brutality Movements Policies Discriminatory Race / Religion / Sex segregation Apartheid Redlining Internment Ethnocracy Anti-discriminatory Emancipation Civil rights Desegregation Integration Equal opportunity Counter-discriminatory Affirmative action Racial quota... In 2005, UMNO Youth Chief Hishamuddin Hussein brandished the keris (traditional Malay dagger) in defense of ketuanan Melayu, the social contract and Article 153. ... The May 13 Incident saw numerous cases of arson in the Malaysian capital city of Kuala Lumpur. ... Nickname: Motto: Maju dan makmur (English: Progress and Prosper) Location in Malaysia Coordinates: , Country State Establishment 1857 Granted city status 1974 Government  - Mayor (Datuk Bandar) Datuk Abdul Hakim Borhan From 14 December 2006 Area  - Total 243. ... Crop diversification was introduced during the Second Malaysia Plan, phasing out rubber in favour of oil palm. ... Robbing Peter to pay Paul is an English idiom referring to taking money from one party to pay ones debt to another. ...

As of 2006, the most recent five year plan is the Ninth Malaysia Plan. The five year plans have been criticised for resembling the central planning of Soviet communism; the five-year time frame has been attacked for being insufficient in dealing with short-term crises and long-term trends.^[13] The effectiveness of the plans has also been disputed; at the beginning of 2005, the last year of the Eighth Malaysia Plan, almost 80% of the funds allocated under the plan had not been disbursed.^[14] Ninth Malaysian Plan abbreviated as 9MP, is a comprehensive blueprint prepared by the Economic Planning Unit (EPU) of the Prime Ministers Department and the Finance Ministry of Malaysia with approval by the Cabinet of Malaysia to allocate the national budget from the year 2006 to 2010 to all economic... A planned economy is an economic system in which decisions about the production, allocation and consumption of goods and services are planned ahead of time, usually in a centralized fashion, though some proposed systems favour decentralized planning. ... “CCCP” redirects here. ...

There has also been a trend towards government involvement in the economy through government-linked companies (GLCs). Their purpose was to "[level] the economic playing field" and "serve as the vehicles for Malay entry into the private sector" according to one commentator. However, several GLCs were reportedly taken over by the United Malays National Organisation (UMNO), the ruling party, through nominees, resulting in criticism that they were vehicles for corruption.^[15] Sang Saka Bangsa The United Malays National Organisation, or UMNO, (Malay: Pertubuhan Kebangsaan Melayu Bersatu), is the right-Wing and the largest political party in Malaysia and a founding member of the Barisan Nasional coalition, which has ruled the country uninterruptedly since its independence. ... Nomination is part of the process of selecting a candidate for either election to an office, or the bestowing of an honor or award. ...

Tiger economy

Macro-economic trend

This is a chart of trend of gross domestic product of Malaysia at market prices ^[16] estimated by the International Monetary Fund with figures in millions of Malaysian Ringgit.

For purchasing power parity comparisons, the US Dollar is exchanged at 1.70 Ringgit only. Average wages in 2007 hover around $30-37 per day.

From 1988 to 1997, the economy experienced a period of broad diversification and sustained rapid growth averaging 9% annually.

By 1999, nominal per capita GDP had reached $3,238. New foreign and domestic investment played a significant role in the transformation of Malaysia's economy. Manufacturing grew from 13.9% of GDP in 1970 to 30% in 1999 , while agriculture and mining which together had accounted for 42.7% of GDP in 1970, dropped to 9.3% and 7.3%, respectively, in 1999. Manufacturing accounted for 30% of GDP (1999). Major products include electronic components -- Malaysia is one of the world's largest exporters of semiconductor devices -- electrical goods and appliances. Invest redirects here. ... This article is about mineral extractions. ... Semiconductor devices are electronic components that exploit the electronic properties of semiconductor materials, principally silicon, germanium and gallium arsenide. ...

During the same period, the government tried to eradicate poverty with a controversial race-conscious positive program called New Economic Policy (NEP). First established in 1971 after race riot known as the May 13 Incident occurred, it sought to eradicate poverty and end the identification of economic function with ethnicity. In particular, it was designed to improve the distribution of wealth among the country's population.. The NEP ostensibly ended in 1991, however the policies persist in the form of other programmes such as the National Developmnent Policy. The policies are enforced overtly through race-based quotas for low-cost housing units, university placement, business equity ownership, etc. It has been suggested that this article or section be merged into Malaysian New Economic Policy. ... The May 13 Incident saw numerous cases of arson in the Malaysian capital city of Kuala Lumpur. ... A boy from Jakarta, Indonesia shows his find. ...

Rapid growth was achieved partly through privatisation of inefficient state owned enterprises, thus subjecting them to commercial pressures and forcing them to better utilise their resources. Mostly deals were done behind closed doors and put through rather quickly. In one example Khazanah Nasional alienated shares in DRB Hicom to Mega Consolidated. This led to such deals being labelled mega projects. Privatization (sometimes privatisation, denationalization, or — especially in India — disinvestment) is the process of transferring property, from public ownership to private ownership. ... A state-owned enterprise (SOE) is an enterprise, often a corporation, owned by a government. ... Khazanah Nasional Berhad is the investment holding arm of the government of Malaysia to manage its commercial assets. ... DRB-HICOM (MYX: 1619) Berhad is Malaysias single largest totally integrated automotive company, with operations in the manufacturing, assembly and distribution of passenger and commercial vehicles. ...

Foreign funds were attracted to invest making the local money market and bourse liquid. This created opportunity for local businesses to raise capital on the KLSE, and carry out infrastructure development in areas like telecommunications, highways and power generation to meet bottlenecks caused by rapid industrialisation. An intense labor shortage created employment for millions of foreign workers. Subsequent events show that more than 50% were illegal. The Bursa Malaysia, previously known as Kuala Lumpur Stock Exchange (KLSE, Bursa Saham Kuala Lumpur in Malay) dates back to 1930 when the Singapore Stockbrokers Association was set up as a formal organisation dealing in securities in Malaya. ...

The influx of foreign investment led to the KLSE Composite index trading above 1,300 in 1994 and the ringgit trading above 2.5 in 1997. At various times the KLSE was the most active exchange in the world, with trading volume exceeding even the NYSE. The stock market capitalisation of listed companies in Malaysia was valued at $181,236 million in 2005 by the World Bank.^[17] The Bursa Malaysia or Malaysia Exchange, MYX previously known as Kuala Lumpur Stock Exchange (KLSE, Bursa Saham Kuala Lumpur in Malay) dates back to 1930 when the Singapore Stockbrokers Association was set up as a formal organisation dealing in securities in Malaya. ... In economics and finance an index (for example a price index, a stockmarket index) is a benchmark of activity, performance or any evolution in general. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) is one of the largest stock exchanges in the world. ... Market capitalization, often abbreviated to market cap, mkt. ... The World Bank logo The World Bank (the Bank) is a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. ...

Some of the more visible projects from that period are Putrajaya, a new international airport (Kuala Lumpur International Airport), a hydroelectric dam (Bakun dam), the Petronas Towers and the Multimedia Super Corridor. Proposals that were eventually canceled include the 95 km Sumatra-Malaysia bridge (would have been world's longest), the Mega International Sea and Air port on reclaimed land in Kedah (would have been world's biggest) and the KL Linear City (would have been the world's longest mall and the world's first city built over a river). Motto: Bandar raya Taman, Bandar raya Bestari (English :Garden City, Intelligent City ) Coordinates: , Country State Establishment 1995, October 19th Made into Federal Territory 2001, February 1st Government  - Administered by Perbadanan Putrajaya Putrajaya Corporation  - Chairman Samsudin Osman Area  - City 46 km²  (17. ... For other uses, see Kuala Lumpur International Airport (disambiguation). ... Hydroelectric dam diagram The waters of Llyn Stwlan, the upper reservoir of the Ffestiniog Pumped-Storage Scheme in north Wales, can just be glimpsed on the right. ... The Petronas Towers The Petronas Towers (also known as the Petronas Twin Towers), in Kuala Lumpur, Malaysia (, ), were once the worlds tallest buildings when measured from the level of the main entrance to the structural or architectural top. ... Situated in Malaysia, the Multimedia Super Corridor is a Government designated zone, designed to leapfrog Malaysia into the information and knowledge age. ... For other uses, see Sumatra (disambiguation). ... State anthem: Allah Selamatkan Sultan Mahkota Capital Alor Star Royal capital Anak Bukit Ruling party Barisan Nasional  - Sultan Tuanku Abdul Halim  - Menteri Besar Mahdzir Khalid History    - British control 1909   - Japanese occupation 1942   - Accession into Federation of Malaya 1948  Area  - Total 9,426 km² Population  - 2003 estimate 1,778,188  - Density...

Concerns were raised during the time about the sustainability of the rapid growth and the ballooning current account. The mainstream opinion prevalent at that time was that the deficit was temporary and would reverse once imported equipment started producing for export. In spite of that, measures were taken to moderate growth especially when it threatened to overheat into the double digits. The main target was asset prices, and restrictions were further tightened on foreign ownership of local assets. Exposure of local banks to real estate loans were also capped at 20%.

As was widely expected, the current account deficit did narrow steadily, year to year, from 9% to 5% of GDP.

Malaysia has the largest operational stock of industrial robots in the Muslim world. ^[18] Nations with a Muslim majority appear in green, while nations that are approximately 50% Muslim appear yellow. ...

Asian financial crisis and recovery

Further information: Asian financial crisis

The year 1997 saw the drastic changes in local scenarios. Foreign direct investment fell at an alarming rate and Ringgit depreciated substantially from MYR 2.50 per USD to much levels lower (up to MYR 4.80 per USD at its bottom) as capital flowed out. The Kuala Lumpur Stock Exchange’s composite index fell from approximately 1300 to nearly merely 400 points in a few short weeks. In response, the Malaysian government imposed capital controls and pegged the Malaysian Ringgit at 3.80 to a US dollar while refusing economic aid from International Monetary Fund (IMF) which came with austere lending conditions. By refusing aid and thus the conditions attached thereof from the IMF, Malaysia was not affected to the same degree in the Asian Financial Crisis as Indonesia, Thailand and the Philippines. The Asian financial crisis was a financial crisis that started in July 1997 in Thailand and affected currencies, stock markets, and other asset prices in several Asian countries, many considered East Asian Tigers. ... This article is about economics. ... The Kuala Lumpur Stock Exchange (KLSE, Bursa Saham Kuala Lumpur in Malay) dates back to 1930 when the Singapore Stockbrokers Association was set up as a formal organisation dealing in securities in Malaya. ... Capital controls are restrictions on the trade of assets across international borders. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... IMF redirects here. ...

Regardless, the GDP suffered a sharp 7.5% contraction in 1998. It however rebounded to grow by 5.6% in 1999. The Government of Malaysia predicted 5.8% real GDP growth in the year 2000, but most analysts predicted growth will exceed 8% for the year.

In order to rejuvenate the economy, massive government spending was made and Malaysia continuously recorded budget deficits in the years that followed. Economic recovery has been led by strong growth in exports, particularly of electronics and electrical products, to the United States, Malaysia's principal trade and investment partner. Inflationary pressures remained benign, and, as a result, Bank Negara Malaysia, the central bank, had been able to follow a low interest rate policy. Later, the country enjoyed faster economic recovery compared to its neighbors though in many ways, the level of pre-1997 affluence has yet to be achieved. Bank Negara Malaysia (BNM) is the Malaysian central bank. ...

The fixed exchange rate regime was abandoned in July 2005 in favor of managed floating system within an hour of China's announcing of the same move. In the same week, Ringgit strengthened a percent against various major currencies and was expected to appreciate further. As of December 2005, there has been no further appreciation of the ringgit. In spite of the large positive current account surplus, foreign reserves have started to fall at a rapid rate. Official statistics released in March 2006, confirmed capital flight of more than USD 10 billion. However, as of the 4th fiscal year, a surge of FDI has pushed the KLSE above 1200 points, and is expected to strengthen to pre 1997 levels. A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... A floating exchange rate or a flexible exchange rate is a type of exchange rate regime wherein a currencys value is allowed to fluctuate according to the foreign exchange market. ... Seen in Asian markets in the 1990s capital flight is when assets and/or money rapidly flow out of a country. ... The United States dollar is the official currency of the United States. ...

As of 21 May 2007, the Ringgit touched a nine-year high record at 3.39 against the US dollar. Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz says the ringgit moves up on its own merit and in line with the Malaysian economy and not in tandem with the Chinese Yuan. Malaysia has shown the ability to absorb the crude oil price increases and most economies have shown high resilience in absorbing higher energy prices.

Economic Policies

Like many other independent nations, Malaysia's economic policies were shaped by various events in the nation's history since independence.

Monetary Policy

Prior to the 1997 Asian Financial Crisis, the Malaysian ringgit was a internationalized currency, which was freely traded around the world. Just before the crisis, the ringgit was traded RM2.50 at the dollar. Due to speculative activities, the ringgit fell as much as RM5.00 to the dollar in matter of weeks. Bank Negara Malaysia, the nation's central banks decided to impose capital controls to prevent the outflow of the ringgit in the open market. The Ringgit is not traded internationally ,a traveler needs to declare to the central bank if taking out more than RM10,000 out of the country and the ringgt it self was pegged at RM3.80 to the US dollar. The East Asian Financial Crisis was a period of economic unrest (or financial contagion) that started in July 1997 in Thailand with the financial collapse of the Thai Baht, and affected currencies, stock markets, and other asset prices in a number of Asian countries. ... ISO 4217 Code MYR User(s) Malaysia Inflation 2. ... Bank Negara Malaysia (BNM) is the Malaysian central bank. ... The United States dollar is the official currency of the United States. ...

The fixed change rate was abandoned to floating exchange rate in July 2005, hours after People's Republic of China announced the same move.^[19] At this point, the ringgit is still not internationalized. The ringgit continue to strengthen to 3.18 to the dollar in March 2008. Meanwhile, many aspect of the capital control has been slowly relaxd by Bank Negara Malaysia, however, the governnment continues not to internalized the ringgit. The government stance that the ringgit will be internationalized once it is ready.^[20] A floating exchange rate or a flexible exchange rate is a type of exchange rate regime wherein a currencys value is allowed to fluctuate according to the foreign exchange market. ... Bank Negara Malaysia (BNM) is the Malaysian central bank. ...

Affirmative Action

Main article: Malaysian New Economic Policy

In plain and simple terms, the affirmative action policy is a direct result of May 13 Incident in 1969. Prior to the incident, the poverty rates among Malays is extremely high and discontent towards other races, especially the Chinese who controls the economy is evident. Under the Malaysian New Economic Policy, Bumiputras are given discounts on real estate. ... The May 13 Incident saw numerous cases of arson in the Malaysian capital city of Kuala Lumpur. ... Three-quarter scale bronze sculptures 19th C. Malay people, Indonesia, Borneo. ...

The Malaysian New Economic Policy was created in 1971 aiming to bring Malays to have 30% of the economy share in Malaysia and eradicate poverty amongst Malays through encouraging enterprise ownership among Bumiputeras. After 30 years on the program, NEP has somewhat met some of the goals. Statistically, Bumiputera ownership increased to 20% in 2004 against 2.4% in 1970 and poverty was decrease to 5% in 2004 against 52% in 1970s. Under the Malaysian New Economic Policy, Bumiputras are given discounts on real estate. ...

The program has been criticized as creating an inefficient system and creating laid back environment for Malays. Certain policies such as 7% bumiputera housing discount and bumiputera quota in stock ownership has been accused of being discriminatory to other races. The program, although somewhat successful, only create opportunities for oligopolies to appear in the economy, enriching certain politically well connected individual and creating a subsidy mentality^[21]. Certain political parties such as Parti Keadilan Rakyat and Democratic Action Party has proposed a new policy which will be equal to every Malaysian, regardless of race. Democratic Action Party, coming in to power in the state of Penang, announced that it will do away with the NEP on claims that it breed nepotism, corruption and inefficiencies^[22]. This article is about the Peoples Justice Party of Malaysia. ... Democratic Action Party (DAP) logo The Democratic Action Party (DAP, Parti Tindakan Demokratik in Malay) is Malaysias largest secular and Socialist opposition party. ... State motto: Bersatu dan Setia (United and Loyal) (formerly Let Penang Lead) State anthem: Untuk Negeri Kita (For Our State) Capital George Town Ruling party Barisan Nasional  - Yang Di-Pertua Negeri Tuan Yang Terutama Abdul Rahman bin Haji Abbas  - Ketua Menteri Tan Sri Dr. Koh Tsu Koon History    - Ceded by... Look up nepotism in Wiktionary, the free dictionary. ...

Subsidies and Price Controls

The Malaysian government subsidizes and control prices on a lot of essential items to keep the prices low. Items such as palm oil cooking oil, petrol and other construction material such as steel has been kept under market prices to keep cost of living low. In 2008, the government announced that it has spent RM40.1 billion in 2007 in subsidies to keep prices leveled.^[23] Palm oil from Ghana with its natural dark color visible, 2 litres Palm oil block showing the lighter color that results from boiling. ... Gasoline, as it is known in North America, or petrol, in many Commonwealth countries (sometimes also called motor spirit) is a petroleum-derived liquid mixture consisting primarily of hydrocarbons, used as fuel in internal combustion engines. ...

Smuggling and hoarding, which leds to shortages, is a prominent problem in Malaysia due to the subsidies. For example, cooking oil is subsidized only for domestic use only. This situation creates an environment where industrial players hoard domestic cooking oil for industrial use. During shortage time, such as the January 2008 cooking oil crisis, the government impose a 5 kg limit for each purchase to relief domestic demand^[24]. Another example is where vehicles in Thailand come to Malaysia to smuggle cheap petrol and diesel out of the country. Gasoline, as it is known in North America, or petrol, in many Commonwealth countries (sometimes also called motor spirit) is a petroleum-derived liquid mixture consisting primarily of hydrocarbons, used as fuel in internal combustion engines. ... This article is about the fuel. ...

The government has considered to remove the subsidies but a formal plan had yet to materialized as of 2007.^[25] In 2008, the government is considering to remove price controls on construction materials such as cement and steel bars while banning exports to ensure steady supply.^[26]. The government is experimenting with the idea through allowing Sabah and Sarawak construction players to import steel and cement since February 2008^[27]. The government then, on May 12, 2008 removed ceiling prices on steel bars and billets and removed import duties on those items^[28] For other uses, see Cement (disambiguation). ... For other uses, see Steel (disambiguation). ... For other uses, see Sabah (disambiguation). ... For the river, see Sarawak River. ...

The government also looking into restructuring the fuel subsidy so that the selected needy group will get the subsidy. The government is considering to remove subsidy on diesel on general consumers while maintaining subsidies for the right groups, for example those involved in public transport. ^[29] This article is about the fuel. ...

Sovereign Wealth Funds

The government owns and operates several sovereign wealth funds that invests in local companies and also foreign companies. One such funds are Khazanah Nasional Berhad which was established in 1993^[30]. Its objective is to help shape selected strategic industries in Malaysia and develop those investment for the benefit of Malaysia^[31]. The fund invest in major companies in Malaysia such as Proton Holdings in the automotive sector, CIMB in the banking sector, Pharmaniaga in the medical sector, UEM Group in the consturction sector, Telekom Malaysia in the communications industry and many other companies in many other industries^[32]. It is estimated that the fund size of Khazanah Nasional stands at around 19 billion USD^[30]. Sovereign wealth fund (SWF) (Sovereign wealth funds) is a fund owned by a state composed of financial assets such as stocks, bonds, property or other financial instruments. ... Khazanah Nasional Berhad is the investment holding arm of the government of Malaysia to manage its commercial assets. ... The initials plc after a UK or Irish company name indicate that it is a public limited company, a type of limited company whose shares may be offered for sale to the public. ... Proton is the Malaysian national carmaker (Malay acronym for Perusahaan Otomobil Nasional, National Automobile Enterprise), which was established in 1983 under the direction of the former Prime Minister, Tun Mahathir Mohamad. ... CIMB Group is Malaysia’s second largest financial services provider which is listed on Bursa Malaysia through Bumiputra-Commerce Holdings Berhad (BCHB). ... The United Engineers Malaysia Berhad or UEM Group is the Malaysias no. ... Telekom Malaysia Berhad (TM) is the largest telecommunication company in Malaysia. ... The United States dollar is the official currency of the United States. ...

Another fund that is owned by the Malaysian government is the Employees Provident Fund which is claimed to be the fourth largest state run pension fund in Asia^[33]. Like Khazanah Nasional, the EPF invests and sometimes owns several major companies in Malaysia such as RHB Bank^[33]. EPF investment is diversified over a number of sectors but almost 40% of their investment are in the services sector^[34]. Fund size in 2007 is estimated at 100 billion USD^[35]. The Employees Provident Fund (Abbreviation: EPF, Malay: Kumpulan Wang Simpanan Pekerja) is a government organisation in charge of social security or retirement planning for employees in Malaysia. ... For other uses, see Asia (disambiguation). ... Khazanah Nasional Berhad is the investment holding arm of the government of Malaysia to manage its commercial assets. ... RHB Bank Berhad is a bank in Kuala Lumpur, Malaysia RHB offers commercial banking, corporate banking and international banking services. ... The United States dollar is the official currency of the United States. ...

Government Influence

Although the federal government promotes private enterprise and ownership in the economy, the economic direction of the country is heavily influenced by the government though five years development plans since independence. The economy is also influenced by the government through agencies such as the Economic Planning Unit and government-linked wealth funds such as Khazanah Nasional Berhad, Employees Provident Fund and Pemodalan Nasional Berhad. Khazanah Nasional Berhad is the investment holding arm of the government of Malaysia to manage its commercial assets. ... The initials plc after a UK or Irish company name indicate that it is a public limited company, a type of limited company whose shares may be offered for sale to the public. ... The Employees Provident Fund (Abbreviation: EPF, Malay: Kumpulan Wang Simpanan Pekerja) is a government organisation in charge of social security or retirement planning for employees in Malaysia. ... Permodalan Nasional Berhad (PNB) is Malaysias biggest fund management company. ...

The government's development plans, called the Malaysian Plan, currently the Ninth Malaysia Plan, started in 1950 during the British colonial rule^[36]. The plans were largely centered around accelerating the growth of the economy by selectively investing in selective sectors of the economy and building infrastructure to support said sectors^[36]. For example, in the current national plan, three sectors - agriculture, manufacturing and services, will receive special attention to promote the transition to high value-added activities in the respective areas^[37]. Other than the generalized plans like the Ninth Malaysia Plan, the government also have a development plan that are targeted to improve the manufacturing sector which is called the Industrial Master Plan. Currently, the plan is called the Third Industrial Master Plan (IMP3) which covers a period from 2006 to 2020. The industrial plans aim to make Malaysia a major trading nation and build up the country's economy and human capital.^[38] Ninth Malaysian Plan abbreviated as 9MP, is a comprehensive blueprint prepared by the Economic Planning Unit (EPU) of the Prime Ministers Department and the Finance Ministry of Malaysia with approval by the Cabinet of Malaysia to allocate the national budget from the year 2006 to 2010 to all economic... Manufacturing (from Latin manu factura, making by hand) is the use of tools and labor to make things for use or sale. ... Services are: plural of service Tertiary sector of industry IRC services Web services the name of a first-class cricket team in India This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ...

Economic Planning Unit (Malay: Majilis Tindakan Ekonomi Negara), established in 1961^[39] was instrumental in steering Malaysia to recovery from the 1997 Asian Financial Crisis. The unit is an agency under the Prime Minister's Department responsible for steering Malaysia's socio-economic development towards achieving a developed-nation status by the year 2020 through various measures such as preparing policies and strategies for socio-economic development, prepare medium and long term plans for the government and most importantly, advise the government on economic issues^[40]. Look up Malay in Wiktionary, the free dictionary. ... The East Asian Financial Crisis was a period of economic unrest (or financial contagion) that started in July 1997 in Thailand with the financial collapse of the Thai Baht, and affected currencies, stock markets, and other asset prices in a number of Asian countries. ...

Government-linked investment vehicles such as Khazanah Nasional Berhad, Employees Provident Fund and Pemodalan Nasional Berhad invest and sometimes own major companies in major sectors of the Malaysian economy. For example, Khanazah Nasional is a major shareholder in Proton Holdings, an automaker and CIMB banking group in the financial sector^[41]. The government, however, is keen to sell stakes in their companies such as Malaysia Airlines to let the companies remain globally competitive^[42] Khazanah Nasional Berhad is the investment holding arm of the government of Malaysia to manage its commercial assets. ... The initials plc after a UK or Irish company name indicate that it is a public limited company, a type of limited company whose shares may be offered for sale to the public. ... The Employees Provident Fund (Abbreviation: EPF, Malay: Kumpulan Wang Simpanan Pekerja) is a government organisation in charge of social security or retirement planning for employees in Malaysia. ... Permodalan Nasional Berhad (PNB) is Malaysias biggest fund management company. ... Proton is the Malaysian national carmaker (Malay acronym for Perusahaan Otomobil Nasional, National Automobile Enterprise), which was established in 1983 under the direction of the former Prime Minister, Tun Mahathir Mohamad. ... CIMB Group is Malaysia’s second largest financial services provider which is listed on Bursa Malaysia through Bumiputra-Commerce Holdings Berhad (BCHB). ... Malaysia Airlines (Abbreviated: MAS, Malay: Penerbangan Malaysia) is the national airline of Malaysia, operating scheduled services to over 100 destinations worldwide. ...

Currency System

Ringgit

Main article: Malaysian Ringgit

The only legal tender in Malaysia is the Malaysian Ringgit. As of March 20, 2008, the Ringgit is traded at MYR 3.18 at the dollar^[43]. The Ringgit was not internationalized since September 1998, an effect due to the 1997 Asian Financial Crisis in which the central bank impose capital controls on the currency^[44]. As a part of series of capital controls, the currency was pegged between September 1998 to 21 July 2005 at MYR 3.80 to the dollar^[45]. In recent years, Bank Negara Malaysia beginning to relax certain rules to the capital controls although the currency itself is still not traded internationally yet. According to the Bank Governor, the Ringgit will be internationalized when it's ready^[46]. ISO 4217 Code MYR User(s) Malaysia Inflation 2. ... ISO 4217 Code MYR User(s) Malaysia Inflation 2. ... Myr is often used in geology as a unit of one million years. ... The United States dollar is the official currency of the United States. ... The East Asian Financial Crisis was a period of economic unrest (or financial contagion) that started in July 1997 in Thailand with the financial collapse of the Thai Baht, and affected currencies, stock markets, and other asset prices in a number of Asian countries. ... is the 202nd day of the year (203rd in leap years) in the Gregorian calendar. ... Bank Negara Malaysia (BNM) is the Malaysian central bank. ...

Natural resources

Malaysia is well-endowed with natural resources in areas such as agriculture, forestry and minerals. In terms of agriculture, Malaysia is one of the top exporters of natural rubber and palm oil, which together with sawn logs and sawn timber, cocoa, pepper, pineapple and tobacco dominate the growth of the sector. Palm oil is also a major generator of foreign exchange. This does not cite any references or sources. ... Palm oil from Ghana with its natural dark color visible, 2 litres Palm oil block showing the lighter color that results from boiling. ... For other uses, see Cocoa (disambiguation). ... Binomial name L.[1] Black pepper (Piper nigrum) is a flowering vine in the family Piperaceae, cultivated for its fruit, which is usually dried and used as a spice and seasoning. ... For other uses, see Pineapple (disambiguation). ... Shredded tobacco leaf for pipe smoking Tobacco can also be pressed into plugs and sliced into flakes Tobacco is an agricultural product processed from the fresh leaves of plants in the genus Nicotiana. ...

Regarding forestry resources, it is noted that logging only began to make a substantial contribution to the economy during the nineteenth century. Today, an estimated 59% of Malaysia remains forested. The rapid expansion of the timber industry, particularly after the 1960s, has brought about a serious erosion problem in the country's forest resources. However, in line with the Government's commitment to protect the environment and the ecological system, forestry resources are being managed on a sustainable basis and accordingly the rate of tree felling has been on the decline.

In addition, substantial areas are being silviculturally treated and reforestation of degraded forest land is also being carried out. The Malaysian government provide plans for the enrichment of some 312.30 square kilometres (120.5 sq mi) of land with rattan under natural forest conditions and in rubber plantations as an inter crop. To further enrich forest resources, fast-growing timber species such as meranti tembaga, merawan and sesenduk are also being planted. At the same time, the cultivation of high-value trees like teak and other trees for pulp and paper are also encouraged. Rubber, once the mainstay of the Malaysian economy, has been largely replaced by oil palm as Malaysia's leading agricultural export. Silviculture is the art and science of controlling the establishment, growth, composition, health, and quality of forests to meet diverse needs and values of landowners, society and the many cultures throughout the globe // Forest regeneration is the act of renewing tree cover by establishing young trees naturally or artificially, generally... A square mile is an English unit of area equal to that of a square with sides each 1 statute mile (≈1,609 m) in length. ... Genera Calamus Calospatha Ceratolobus Daemonorops Eremospatha Eugeissonia Korthalsia Laccosperma Metroxylon Myrialepis Oncocalamus Pigafetta Plectocomia Plectomiopsis Raphia Zalacca Zalacella Rattan (from the Malay rotan), is the name for the roughly six hundred species of palms in the tribe Calameae, native to tropical regions of Africa, Asia and Australasia. ... Species Tectona grandis Tectona hamiltoniana Tectona philippinensis Teak (Tectona), is a genus of tropical hardwood trees in the family Verbenaceae, native to the south and southeast of Asia, and is commonly found as a component of monsoon forest vegetation. ... This does not cite any references or sources. ... Species Elaeis guineensis Elaeis oleifera The oil palms (Elaeis) coomprise two species of the Arecaceae, or palm family. ...

Tin and petroleum are the two main mineral resources that are of major significance in the Malaysian economy. Malaysia was once the world's largest producer of tin until the collapse of the tin market in the early 1980s. In the 19th and 20th century, tin played a predominant role in the Malaysian economy. It was only in 1972 that petroleum and natural gas took over from tin as the mainstay of the mineral extraction sector. Meanwhile, the contribution by tin has declined. Petroleum and natural gas discoveries in oil fields off Sabah, Sarawak and Terengganu have contributed much to the Malaysian economy. Oil and Gas resources are managed by Petronas, the state controlled oil company which forms production sharing contracts with other players like Exxon-Mobil and Royal Dutch Shell to explore oil fields in Malaysia. This article is about the metallic chemical element. ... Petro redirects here. ... For other uses, see Natural gas (disambiguation). ... Drilling rig in a small oil field Near Sarnia, Ontario, 2001 An oil field is an area with an abundance of oil wells extracting petroleum (oil) from below ground. ... Petronas, short for Petroliam Nasional Berhad, is a Malaysian owned oil and gas company that was founded on August 17, 1974. ... Exxon-branded gas station in California (actually operated by Valero) Greenpeace protest against Exxon Mobil Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ... Royal Dutch Shell plc is a multinational oil company of British and Dutch origins. ...

In 2004, Minister in the Prime Minister's Department, Mustapa Mohamed, revealed that Malaysia's oil reserves stood at 4.84 billion barrels while natural gas reserves increased to 89 trillion cubic feet (2,500 km³). This was an increase of 7.2%.^{[citation needed]} As of January 1, 2007, Petronas reported that oil and gas reserve in Malaysia amounted to 20.18 billion barrels equivalent.^[47] Dato Mustapa Mohamed is a Malaysian politician who is currently the Higher Education Minister. ... Synthetic motor oil being poured. ... The cubic foot is an imperial and US customary (non-metric) unit of volume, used in the United States, Canada and the United Kingdom. ... Petronas, short for Petroliam Nasional Berhad, is a Malaysian owned oil and gas company that was founded on August 17, 1974. ...

The government estimates that at current production rates Malaysia will be able to produce oil up to 18 years and gas for 35 years. In 2004, Malaysia is ranked 24th in terms of world oil reserves and 13th for gas. 56% of the oil reserves exist in the Peninsula while 19% exist in East Malaysia. The government collects oil royalties of which 5% are passed to the states and the rest retained by the federal government.^[48]

Other minerals of some importance or significance include copper, bauxite, iron-ore and coal together with industrial minerals like clay, kaolin, silica, limestone, barite, phosphates and dimension stones such as granite as well as marble blocks and slabs. Small quantities of gold are produced. GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ...

Business Environment

According to World Bank, Malaysia ranks 24th in Ease of doing business. Malaysia's strengths in the rank includes getting credit (rank 3rd), protecting investor (ranked 4th) and doing trade across borders (ranked 21st). Weaknesses include dealing with licenses (ranked 105th). The study ranks 178 countries in all aspect of doing business^[49]. In the investor protection category of the survey, Malaysia had scored a perfect 10 for the extent of disclosure, nine for director liability and seven for shareholder suits. Malaysia is behind Singapore, Hong Kong and New Zealand in investor protection category of the survey^[50]

The government is moving towards a more business friendly environment by setting up a special task force to facilitate business called PEMUDAH, which means simplify in Malay^[51]. Highlights includes easing restrictions and requirement to hire expatriates, shorten time to do land transfers and increasing the limit of sugar storage (a controlled item in Malaysia) for companies^[52]. The Government aims to be in the top 10 in the Ease of doing business survey before 2010 in order to attract even more foreign investors.^[53]

External trade

Malaysian exports in 2006

Malaysia is an important trading partner for the United States. In 1999, two-way bilateral trade between the U.S. and Malaysia totaled U.S. $30.5 billion, with U.S. exports to Malaysia totaling U.S.$9.1 billion and U.S. imports from Malaysia increasing to U.S.$21.4 billion. Malaysia was the United States' 10th-largest trading partner and its 12th-largest export market. During the first half of 2000, U.S. exports totaled U.S.$5 billion, while U.S. imports from Malaysia reached U.S.$11.6 billion.

The Malaysian Government encourages Foreign Direct Investment (FDI). According to Malaysian statistics, in 1999, the U.S. ranked first among all countries in approved FDI in Malaysia's manufacturing sector with approved new manufacturing investments totaling RM5.2 billion (US$1.37 billion). Principal U.S. investment approved by the Malaysian Investment Development Authority (MIDA) was concentrated in the chemicals, electronics, and electrical sectors. The cumulative value of U.S. private investment in Malaysia exceeded $10 billion, 60% of which is in the oil and gas and petrochemical sectors with the rest in manufacturing, especially semiconductors and other electronic products. This article is about economics. ... Malaysian Industrial Development Authority (MIDA) is the Malaysian governments principal agency for the promotion and coordination of industrial development. ...

In the first six months of 2007, Malaysia's total trade increased by 2.2% to RM522.38 billion, compared with RM511.11 billion in the same period of 2006.

Free trade efforts

Malaysia is the founding member of the ASEAN Free Trade Area which was established in 1992 to promote trade among ASEAN members. Most tariffs among the first generation member states were scrapped in 2007. ASEAN itself is increasingly playing a large role in free trade negotiation on behalf of its members. ASEAN as a group hopes to establish a free trade agreement with the European Union by 2009^[54]. Template:ASIAN table ASIAN Free Trade Area (AFTA) is an agreement by the Association of Southeast Asian Nations, of local manufacturing in all ASEAN countries. ...

The Malaysian Government is negotiating free trade deals with Australia, New Zealand, United States, Chile and India.^[55]. Officials have expressed desire for free trade agreements their ASEAN members Singapore and Thailand. The Malaysian Trade Ministry released a statement in Vietnam saying that the FTA "has the potential to increase trade, investment cross flows and economic cooperation between the two countries. The agreement would also serve to make Chile a gateway for Malaysia's exports to the Latin American market."^[56] ASEAN[1], pronounced // (AH-SEE-AHN) in English, or the Association of Southeast Asian Nations, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand[2] as a display of solidarity... Latin America consists of the countries of South America and some of North America (including Central America and some the islands of the Caribbean) whose inhabitants mostly speak Romance languages, although Native American languages are also spoken. ...

Malaysia signed a Japan-Malaysia Economic Partnership Agreement with Japan on December 13, 2005^[57]. This leads to a Free trade agreement which was in effect from July 13, 2006 and expected to be fully realized in 2016^[58]. The agreement itself is an extension of an FTA between ASEAN and Japan, which is called Asean-Japan Comprehensive Economic Partnership^[59].

On November 8, 2007, Malaysian and Pakistan signed a bilateral Free Trade Agreement which will come in force on January 1, 2008. Malaysia will cut tariffs on 140 lines while Pakistan will cut 124 lines. Most tariffs and duty is expected to be eliminated by 2012. ^[60] is the 312th day of the year (313th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...

Sectors

Industry

Malaysia industrial sector accounts for 48.1 percent of total GDP or 63.4 billion US dollars. The industrial output is ranked 32nd in the world.^[61]. The industrial sector is regulated and promoted by Malaysia Industrial Development Authority^[62]. The United States dollar is the official currency of the United States. ...

Malaysia have 15 companies that rank in the Forbes Global 2000 ranking for 2008.^[63] The Forbes Global 2000 - is an annual ranking of the top 2000 corporations in the world by Forbes magazine. ...

Maybank (formerly known as Malayan Banking) is the largest bank and financial group in Malaysia, with significant personal banking operations in Singapore and the Philippines as well. ... Tenaga Nasional Berhad (TNB) is the largest electricity utility company in Malaysia with RM60. ... In 1910, William Middleton Sime, a Scottish gentleman, and Henry Darby, an English gentleman, teamed up to form a company to manage 500 acres (2 km²) of rubber estates in the state of Malacca. ... Bumiputra-Commerce Holdings (BCHB) Berhad or BCB is one of the largest local bank in Malaysia and was established in 1924. ... Telekom Malaysia Berhad (TM) is the largest telecommunication company in Malaysia. ... Public Bank Berhad is a bank based in Malaysia owned by a Malaysian ethnic Chinese. ... Look up misc in Wiktionary, the free dictionary. ... Genting may refer to: Genting Group, a Malaysian company. ... IOI Corporation Berhad or commonly referred to as IOI, was incorporated on 31 October 1969 as Industrial Oxygen Incorporated Sdn Bhd. ... RHB Bank Berhad is a bank in Kuala Lumpur, Malaysia RHB offers commercial banking, corporate banking and international banking services. ... Cahya Mata Sarawak Berhad (CMSB), which means the light of Sarawaks eye in the Malay language, is a major company in Sarawak, Malaysia. ... AMMB Holdings (which trades as AmBank Group) specializes in Islamic financial services products. ... Petronas, short for Petroliam Nasional Berhad, is a Malaysian owned oil and gas company that was founded on August 17, 1974. ...

Finance & Banking

Finance and Banking sector in Malaysia is regulated by Bank Negara Malaysia. The central bank limits foreign participation through licensing limits. The central bank launched a Financial Sector Master plan in 2001 to revamp the finance sector following the Asian Financial Crisis. The master plan calls for emphasis on Islamic Banking^[64]. Bank Negara Malaysia (BNM) is the Malaysian central bank. ... The Asian financial crisis was a financial crisis that started in July 1997 in Thailand and affected currencies, stock markets, and other asset prices in several Asian countries, many considered East Asian Tigers. ...

Maybank is Asia-Pacific the largest Islamic banking service provider with US$6.4 billion (RM22.48 billion) Syariah-compliant assets^[65]. Malaysia also accounts for two thirds of global $82.2 billion sukuk market in 2007^[66]. Khazanah Nasional owns the largest retakaful company in the world, ACR Retakaful Holdings Limited, with capital base amounting to 300 million US Dollars.^[67] Maybank (MYX: 1155), a trade name for Malayan Banking Berhad is the largest bank and financial group in Malaysia, with significant personal banking operations in Brunei, Singapore and the Philippines as well. ... For other uses, see Asia (disambiguation). ... For other meanings of Pacific, see Pacific (disambiguation). ... Sukuk is the Arabic name for a financial certificate but can be seen as an Islamic equivalent of bond. ... Khazanah Nasional Berhad is the investment holding arm of the government of Malaysia to manage its commercial assets. ... // Takaful is an Islamic insurance concept which is grounded in Islamic muamalat (banking transactions), observing the rules and regulations of Islamic law. ... Limited can refer to: A private limited company by shares, a specific kind of limited company in Commonwealth of Nations commercial law; often used as a suffix (Mycompany, Limited or ); formerly used for all limited companies. ... The United States dollar is the official currency of the United States. ...

See also

• Islamic banking in Malaysia
• Poverty in Malaysia

All banking institutions that provide Islamic banking products and services in Malaysia are required to display the Islamic banking logo as shown above The earliest form of Islamic banking activity in Malaysia may be traced back to September 1963 when Perbadanan Wang Simpanan Bakal-Bakal Haji (PWSBH) was set up. ... Poverty in Malaysia is a controversial economic issue. ...

References

2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 113th day of the year (114th in leap years) in the Gregorian calendar. ... For other universities known as American University, see American University (disambiguation). ... Bank Negara Malaysia (BNM) is the Malaysian central bank. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 121st day of the year (122nd in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 5th day of the year in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... March 26 is the 85th day of the year (86th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 104th day of the year (105th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 129th day of the year (130th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 129th day of the year (130th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 115th day of the year (116th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 118th day of the year (119th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 125th day of the year (126th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 125th day of the year (126th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 95th day of the year (96th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 8th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 326th day of the year (327th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 125th day of the year (126th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 129th day of the year (130th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance with the Gregorian calendar. ... is the 129th day of the year (130th in leap years) in the Gregorian calendar. ...

External links

• Mahathir bin Mohamad's interview with the PBS series "Commanding Heights" on the subject of East Asian economic development.
• Key Statistics for Malaysia
• Economic Outlook by Economist Intelligence Unit
• http://www.matrade.gov.my/matrade/matradeMedia072007.htm

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Sparsely populated in relation to its area, the Democratic Republic of the Congo is home to a vast potential of natural resources and mineral wealth, yet the economy of the DROC has declined drastically since the mid-1980s. ... This article or section does not cite its references or sources. ... The economy of Costa Rica heavily depends on tourism, agriculture, and electronics exports. ... The Ivorian economy is largely market based and depends heavily on the agricultural sector. ... The Dominican Republic is a middle-income developing country primarily dependent on agriculture, trade, and services, especially tourism. ... This article does not cite its references or sources. ... If it is considered as a single state, the economy of the European Unions twenty-seven member states is the worlds largest economy. ... Economy - overview: The breakup of Yugoslavia in 1991 deprived F.Y.R.O.M. (Former Yugoslav Republic of Macedonia), then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. ... Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. ... This article needs to be updated. ... The Economy of Hong Kong is widely believed, and some argue incorrectly, to be the most economically free in the world. ... Currency 1 South Korean Won (W) = 100 Jeon(Chŏn) (theoretical) Fiscal year Calendar year Trade organizations APEC, WTO and OECD GDP ranking 10th by volume (at nominal) (2006); 11th by volume (at PPP) (2006); GDP (Nominal) $981. ... The Economy of New Zealand is a small but prosperous free market economy, which is greatly dependent on international trade, mainly with Australia, the United States of America and Japan. ... Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. ... The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... A per capita GDP of $340 ranks Solomon Islands as a lesser developed nation. ... South Africa has a two-tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. ... With an economy of $27. ... Republic of China (ROC) has a dynamiccapitalist economy with gradually decreasing guidance of investment and foreign trade by the government. ... Trinidad and Tobago experienced a real growth rate of 3. ... // The United Arab Emirates has a highly industrialized economy that makes the country one the most developed in the world, based on various socioeconomic indicators such as GDP per capita, energy consumption per capita, and the HDI. At $168 billion in 2006, the GDP of the UAE ranks second in... The economy of the United States has been the worlds largest national economy since the late 1890s;[1] its gross domestic product (GDP) was estimated as $13. ... 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