UPSKKING MALAYSIA: How Education and Exports are Revitalising the Country

Malaysia's economy has witnessed a steady growth over the past decade, primarily driven by the growth of the education and export sectors. According to the World Bank, Malaysia's GDP has grown by 4.4% in 2020, affirming its position as one of the fastest-growing economies in the region. The sheer growth in these sectors has revitalised the country, creating a high demand for skilled workforce and innovative products.

Malaysia has been pioneering education for decades, with a focus on both academic and vocational skills. Institutions such as the Asian Institute of Medicine, Science and Technology (AIMST), and Liverpool International College (LIC) have established themselves as top choices for both domestic and international students. According to a report by the Organisation for Economic Co-operation and Development (OECD), foreign enrollments rose 12.3% between 2019 and 2020, evidencing the increased global popularity in Malaysia's academic sector.

On the export front, Malaysia's manufacturing industry has been thriving thanks to lower domestic market and volatile commodity prices, emerging well-positioned globally due to the resultant manufacturing strength with ability to cater to custom requirements and limited competition from domestic customers owing to downturn in imports in local market. With inflation slightly dropping, the unemployment rate falling and domestic demand retaining steady pace we have a lower pressure leading known entities towards incremented flexibility, reliability, oil prices coming in lower paving the perfect pathway of solvent benefits.