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Later, Malaysia enjoyed faster economic recovery compared to its neighbours. The country has recovered to the levels of the pre-crisis era – as an example, the KLCI Composite Index reached 1,896 in 2014, significantly higher than the pre-crisis record of 1,275 in 1993.
In early 2020, Malaysia faced a political crisis, [21] concurrent with the COVID-19 pandemic, leading to political, health, social, and economic disruptions. [22] [23] The 2022 general election resulted in Malaysia's first hung parliament, leading to Anwar Ibrahim's appointment as Prime Minister on November 24, 2022. [24] [25] [26] [27]
The approval of these licenses is a sharp break from Malaysia's history of domestically dominated and tightly regulated markets for financial services. Under Najib, the Malaysian central bank has increasingly allowed the ringgit to appreciate and has plans to allow settlement and borrowing denominated in ringgit to be conducted offshore.
Malaysia is forecasted to have a nominal GDP of nearly half a trillion US$ by the end of 2024. [25] The labour productivity of Malaysian workers is the third highest in ASEAN and significantly higher than Indonesia, Vietnam, and the Philippines. [26] Malaysia excels above similar income group peers in terms of business competitiveness and ...
The New Economic Policy (NEP) which began with the Second Malaysia Plan (1971–1975) and lasted until the Fifth Malaysia Plan (1986–1990), had three main objectives, namely: [1] To achieve national unity, harmony and integrity; Through socio-economic restructuring (of the society) To minimize the level of poverty in the country (poverty ...
This is the Malaysia's worst hurricane disaster in history. 1997: 17 May: Cyberjaya, Malaysia's city with a science park as the core that forms a key part of the Multimedia Super Corridor, was officially launched by then Prime Minister, Mahathir Mohamad. 23 May
New villages (Chinese: 新村; pinyin: Xīncūn; Malay: Kampung baru), also known as Chinese new villages (Chinese: 华人新村; pinyin: Huárén Xīncūn, Malay: Kampung baru Cina), were internment camps created during the waning days of British rule in Malaysia.
The Ministry of Investment, Trade and Industry (Malay: Kementerian Pelaburan, Perdagangan dan Industri; Jawi: كمنترين ڤلابورن، ڤرداڬڠن دان ايندوستري ), abbreviated MITI, is a ministry of the Government of Malaysia that is responsible for international trade, industry, investment, productivity, small and medium enterprise, development finance institution ...