Malaysia’s industrial sector mainly produces electronic and electrical goods for export. The manufacturing industries are mainly concentrated in Western Malaysia and employ almost one in three Malaysian employees.
The government has invested in diversifying the industry and attracting foreign investors to the country. Malaysia has several economic free zones where companies are allowed to import raw materials and other production material tax-free. There are also a number of high-tech industrial parks with, among others, biotechnology companies and communications and IT companies.
- According to ABBREVIATIONFINDER, MY stands for the country of Malaysia in geography.
Malaysia is a major exporter of solar panels and electronic goods such as mobile phones and tablets. The country also exports food, textiles, rubber products, metal products, oil products, pharmaceuticals and other pharmaceutical products, cement and toys.
The Malaysian car Proton was created in collaboration with the Japanese Mitsubishi and is sold mainly on the domestic market and in China.
The small proportion of industrial production produced for the domestic market mainly consists of metal products, transport equipment and food.
- COUNTRYAAH: List of top trading partners of Malaysia. Includes countries that imported most shipments from and exported most goods to the country.
Malaysia receives money from 1MDB
The US Department of Justice has agreed with an Emirati businessman to return $ 49 million in assets to Malaysia. The money comes from the looted Malaysian pension fund 1MDB. The businessman must have been involved in the embezzlement. The US Department of Justice says it has now helped Malaysia recover a total of nearly $ 1.1 billion, which has been scrapped from the fund and laundered on the global market. In total, the 1MDB fund was plundered at just over $ 4.5 billion between 2009 and 2015.
Companies may open again
The government allows most companies to resume their operations. The requirement for so-called social distancing remains. Places that pose a risk of congestion such as cinemas, mosques and schools continue to be closed. It is also not allowed to travel to their hometowns during id-ul-fitr, the holiday which ends the Ramadan. The number of new cases of covid-19 has decreased to less than 100 most days. At the time, Malaysia had around 6,000 confirmed cases of covid-19 and 100 deaths. According to government estimates, the closure of the country has so far cost $ 14 billion.
Rapid spread of the coronavirus
Malaysia prohibits its citizens from traveling abroad as well as foreign nationals from entering the country. Schools are closed, larger crowds are banned and most shops and worship services are closed. People are encouraged to stay home. Measures are being taken to try to prevent the rapid spread in the country of the new corona virus, which has caused a pandemic. When the decisions are made, Malaysia has the most confirmed coronary cases in Southeast Asia. The rapid spread is linked to an Islamic mass meeting outside Kuala Lumpur in early March. When it turns out that many Malaysians choose not to follow the rules, the military is commissioned to assist the police in their efforts to ensure that residents comply with the restrictions.
New Umno Government
Prime Minister Muhyiddin Yassin presents a new government with Ministers from Umno and a small Muslim party. Several of the government members were part of the old scandal-hit government under the corruption-accused former prime minister Najib Razak. As a result, Umno regains power after less than two years in opposition. Among the Umno politicians are Hishammuddin Hussein, who will be the new Foreign Minister, and Ismail Sabri Yaakob, who will have overall responsibility for the Ministry of Defense.
4th of March
Prime Minister Muhyiddin Yassin postpones the next session in Parliament, from March 9 to May 18. He does so to prevent former Prime Minister Mahathir Mohamad from trying to cast him in a vote of confidence. Mahathir Mohamad claims that he has the support of 112 of the 222 MEPs.
Muhyiddin Yassin becomes prime minister
Tan Sri Muhyiddin Yassin formally assumes the post of Prime Minister at a ceremony in the Royal Palace in Kuala Lumpur.
The king decides the power struggle
After a series of new tours in the battle for power, 94-year-old Mahathir Mohamad appears to have lost, at least for the moment. The King enters and appoints Tan Sri Muhyiddin Yassin as new Prime Minister. The vote in Parliament is thus canceled. Muhyiddin Yassin is a low-profile former interior minister supported by two Muslim-dominated parties, including Umno. He is described as an Islamic nationalist. Muhyiddin Yassin was highly regarded within Umno until 2015, when then-Prime Minister Najib Razak kicked him out of the party after criticizing Umno’s handling of the 1MDB scandal. Muhyiddin Yassin then supported Mahathir Mohamad’s new coalition. In connection with the new tours, Muhyiddin Yassin returned to the camp. Mahathir Mohamad calls King’s decision “illegal”
Parliament will vote on new head of government
The King decides that Parliament will vote for a new prime minister on March 2. If no candidate receives a sufficient majority of the votes, a new election to Parliament shall be announced. The collapsed government coalition Hope Alliance publicly gives its support to PKR leader Anwar Ibrahim and criticizes the king’s decision on a special vote. Mahathir Mohamad’s proposal for a unifying government across party borders gains no support in the political camps.
Power struggle between Mahathir Mohamad and Anwar Ibrahim
The situation begins to clear around Prime Minister Mahathir’s sudden departure. A power struggle appears to have erupted between Mahathir Mohamad and PKR leader Anwar Ibrahim. While Mahathir Mohamad as acting prime minister begins the formation of a transitional minister, Anwar Ibrahim says that the old government coalition Hope Alliance has nominated him as new prime minister. However, the alliance of hope collapsed in practice when a faction two days earlier tried to form a new government without Anwar Ibrahim. It is unclear if Mahathir Mohamad was behind the attempt to bypass Anwar Ibrahim, but judges say he probably knew it at least. Outwardly, Mahathir Mohamad has said that he is behind Anwar Ibrahim and that he resigned in protest against the failed attempt to put the PKR leader outside.
The government is falling
Prime Minister Mahathir Mohamad submits his resignation to the King, who accepts his departure. The four-party government has burst after a long period of tensions and fractional formation. Parts of Hope’s alliance have left the government and instead tried to form a new government together with, among other Umnopolitics. The aim should have been to prevent PKR leader Anwar Ibrahim, as planned, taking over the post of Prime Minister after Mahathir Mohamad (see Current policy and Political system). In the new government, Anwar Ibrahim and PKR would have been excluded. Mahathir Mohamad is said to have resigned in protest against the attack on his government and he is said to be behind Anwar Ibrahim. He resigns as leader of Bersatu. The king asks Mahathir Mohamad to continue to lead the country with a temporary minister until a new government is in place.