6. Malaysia
CPA Australia members: 13,380
Overview
The digital economy has been a significant contributor to Malaysia’s emergence as an economic hub, with the nation’s GDP growing by 5.1 per cent in 2024, surpassing all expectations.
Reflecting the fact that Malaysia has committed to digital innovation, the digital economy accounted for 23.5 per cent of 2024 GDP. FDI was RM40.4 billion (A$14.7 billion) in 2023, representing a 46 per cent YOY decrease.
Major sectors
- Information and communications technology, and ecommerce
- Services
- Manufacturing
Key business attractions
Business travellers to Malaysia are often surprised to discover that English is widely spoken. This helps support Malaysia’s location as a hub for international business, which the government recognises and therefore it supports initiatives to bolster English proficiency.
Malaysia is in the heart of the ASEAN region and is party to numerous free-trade agreements.
Skills in demand
- Data analysts
- Financial and fintech experts
- Sustainability and ESG experts
Local insight
“It is very easy to do business in Malaysia,” says Ching-Fong Ong CPA, managing director and senior partner at Boston Consulting Group in Kuala Lumpur.
“While the regulatory landscape is more complex than in Singapore, due to the interplay of federal and state laws, the overall ease of doing business remains high.”
Still, cultural awareness is essential.
“Be aware of cultural and religious sensitivities when interacting with colleagues,” Ong says. For example, refrain from offering pork to Muslim associates or beef to Hindu counterparts, “as these may conflict with their beliefs”.
Malaysia’s multilingual, multicultural workforce, which Ong says is “culturally sensitive, adaptable and in high global demand”, is a rare commodity by global standards, as evidenced by the number of Malaysians employed overseas.
