Strong private consumption, robust foreign direct investment and improved availability of financing have bolstered business optimism in Malaysia. The recovery momentum is expected to gain traction among legal professionals offering assistance in the dynamic and competitive environment for companies doing business in the country.
Buoyed by the reopening of international borders and structural reforms, Malaysia’s central bank expects year-on-year economic growth of 5% this year, mainly driven by private sector expenditure that is expected to normalise to pre-pandemic levels. In the domestic market, Ernst & Young’s Business Pulse survey in March found that 86% of Malaysian businesses are ready to live with covid-19, and 77% place technology adoption among key priorities.