Malaysia’s government has recently announced plans to turn its capital Kuala Lumpur into a major financial centre – rivalling the likes of London, New York, Singapore and Hong Kong. If Malaysia is to join the top flight of international financial centres, it must leverage its status as an established Islamic finance hub. And it must address the challenges associated with the supply of high quality human capital.
The Malaysian government is attempting to claim compensation from several organisers of the recent ‘Bersih’ (clean in Malay) mass protest rally for fairer elections, after alleging that the campaign’s street-wide demonstrations had caused significant damage to public and government property.
Malaysia is an Upper Middle income economies coming under the East Asia and Pacific region as to the classification made by the World Bank on the basis of income and region for the year 2006.
The Malaysian Economy has a followed a free and open system in the recent years. Abundance of natural resources deposits has a made the country one among the top economies over the world. Services sector contributes a larger portion of the GDP followed by the Industries.
Malaysia was the 33rd fastest growing economy in the world for 2010, with a real GDP growth rate (constant prices, national currency) of 7.156 percent. Malaysia recovered fairly strongly from the 2008 global financial crisis where the economy declined for a brief period of time in 2009 – GDP growth (constant prices, national currency) fell to negative 1.71 percent in 2009 compared to a positive average of 5.824 percent from 2003 to 2008.
