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Home > News > Regional News

Malaysia’s standing in the Emerging Asia Manufacturing Index

Source:Adsale Plastics Network Date :2024-07-02 Editor :RC
Copyright: This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

The Emerging Asia Manufacturing Index 2024 report (EAMI 2024) highlights Malaysia’s potential as a stable manufacturing destination for foreign investors, supported by a supportive labor market, a well-capitalized financial sector, and developed infrastructure.

 

Background of the report

 

Dezan Shira & Associates, a pan-Asia, multi-disciplinary professional services firm, published the EAMI 2024 to provide insights into the factors that influence the manufacturing sector in eight selected countries in Asia, namely Bangladesh, China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

 

48 parameters across eight criteria are assessed in the report, including economy, business environment, international trade and others.

 

Details on the report

 

In the economy tier, Malaysia’s economic condition was ranked seventh among the eight Asian countries.


Malaysia 2024 emerging manufacturing index_economy.jpg


Data on economy assessment.

 

Malaysia is expected to see growth of between 4-5% this year driven by improved external demand. The country’s central bank predicts that growth in 2024 will be driven by technology upcycle as well as new and existing investment projects, particularly in the IT and electronic sectors.

 

Malaysia is one of Asia’s major electronics production hubs with the country responsible for 13% of global chip production, testing, and packaging, in addition to 7% of global semiconductor production.

 

In business environment, the country was ranked first, with the parameters of “average company setup time”, “intellectual property protection” and “ease of hiring foreign staff”.


Malaysia 2024 emerging manufacturing index_business environment.JPG


Data on business environment assessment.

 

Malaysia offers a diverse array of business models that attract multinational corporations, including Global and Regional Headquarters, Centres of Excellence (COEs), and Procurement and Distribution Hubs.

 

These models provide the multinational corporations with numerous advantages, making Malaysia an ideal strategic hub in the Asia-Pacific region for efficiently managing service operations and regional or global supply chains.

 

In international trade, Malaysia was ranked third. The country’s customs facilities were ranked first, trade balance was ranked second, and trade openness was also ranked second.


Malaysia 2024 emerging manufacturing index_international trade.JPG


Data on international trade assessment.

 

Malaysia boasts an open economy driven by trade in goods and services. Over the years, the country has established an extensive network of regional and bilateral trade agreements, enabling Malaysia-based exporters and investors to benefit from tariff concessions, expanded market access, and strengthened economic integration with partner nations and regions.

 

Consequently, Malaysia’s robust international trade activities have been instrumental in driving sustained economic growth and overall development, cementing the nation’s status as a prominent player in the global marketplace.

 

Concerning other criteria, Malaysia was ranked third in “infrastructure tier” and “workforce tier”.


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