Part 9/12:

Additionally, Malaysia aims to bolster export competitiveness through enhanced incentives, including triple deductions on export-related costs and expansion of free trade zones. These initiatives align with broader goals to diversify the economy and strengthen Malaysia’s position as a regional trade hub.

Bright Spots and Future Opportunities

Despite political uncertainties, Malaysia’s economic prospects remain comparatively optimistic within ASEAN. In 2022, the national economy outperformed many of its regional peers, buoyed by stable commodity markets and robust exports. Palm oil prices, a key sector for Malaysia’s plantation industry, have remained favorable despite labor shortages.