Malaysia—your home away from home.
Salam Sejahtera (greetings). I am delighted to welcome you to this exclusive issue of Focus International on Malaysia.
Today, Malaysia stands at the threshold of immense opportunities and epoch-making economic evolution.
Malaysia was once the world’s largest producer of tin, rubber and palm oil. In the late 1970s, we aggressively moved towards industrialisation to ensure uniform prosperity and parity. Through the First Industrial Master Plan, the manufacturing sector became the leading growth sector, surpassing agriculture at over 18% in the late 1980s. This marked a structural shift from agriculture- to manufacturing-based economy.
Malaysia is one of the fastest growing ASEAN economies. Even as parts of the world continue to experience the reverberations of the recent financial crisis, the Malaysian economy expanded by 9.5% in the first half of 2010, and we expect to complete this year with a remarkable growth rate of about 7%. I am confident that we will be a developed nation by 2020, if we can achieve an annual average growth rate of 6%.