Government Structure and Society Thailand is a constitutional monarchy with the monarch as the head of state. While almost every government since 1932 has accepted constitutional authority, the country has had 17 constitutions, the most recent drafted in 2017. All of these documents have provided for a National Assembly with a prime minister as head… Continue reading Government & Society
Demographic Advantage Population – As the 11th most populous country in Asia, The Kingdom of Thailand is home to nearly 70 million people. However, projections regarding the country’s population growth remain bleak given its consistently declining growth rate, which stood at 0.22% in the year 2020. Thailand’s population alone does not afford it much of a demographic advantage, but when it… Continue reading Demographic Advantage
Historical Background The Kingdom of Thailand has a rich and unique history dating back to the early 1200s. Centuries of rule by absolute monarchies, invasions by the Burmese Kingdom, endeavours to fend off European colonialism and internal revolutions demanding greater freedom have all amalgamated to offer the country of Thailand, formerly known as Siam, an… Continue reading Historical Background
Business Etiquette Greetings – This is predominantly a Muslim country, so physical touching between sexes is not that appropriate. The best option is to wait and see how you are approached for greetings. Bowing slightly with your hand placed over the position of your heart to demonstrate respect can be more appropriate in Malaysia. You will… Continue reading Business Etiquette
Digital Economy For emerging markets, success in the 21st century hinges sufficiently on the ability to generate digital prowess. In this regard, Malaysia holds a distinct advantage over many of its regional peers, boasting an internet ecosystem that trumps those in other ASEAN emerging markets. With rapid innovation taking place in competing economies like Indonesia and… Continue reading Digital Economy
Foreign Direct Investment FDI by sector – In 2019, FDI net inflows into Malaysia stood at US$ 73.33 billion, granting the most benefit to the country’s Real Estate sector which received nearly 24% of total foreign investment. As shown in chart 1 below, the Malaysian Petroleum Products Industry was the second most sought after sector by foreign investors, garnering over 16% of total… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax – For both resident and non-resident companies, corporate income tax (CIT) is imposed on income accruing in or derived from Malaysia. The current CIT rates are provided in the following table: On comparing Malaysia to other major economies in ASEAN, we find that the Malaysian CIT rate stands out. As showcased… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking –In 2020, Malaysia ranked 12th in the World Bank’s Ease of Doing Business Index, beating 178 other countries and cementing itself as one of the most conducive places on earth to do business. As can be seen in the chart below, Malaysia outperformed all other ASEAN emerging… Continue reading Ease of Doing Business
Government Structure and Society Government Structure Malaysia is a parliamentary democracy with a federal constitutional monarchy. The Paramount Ruler, commonly referred to as the Yang di-Pertuan Agong, is the head of state as well as the leader of the Islamic faith in Malaysia. This monarch is selected for a five-year term from among their own… Continue reading Government & Society
Demographic Advantage Population – With a population of just over 32.7 million and a modest annual growth rate of 1.27%, Malaysia’s demographic advantage is not drawn from its abundance of people alone but rather the combination of multiple factors that augment the country’s demographic prowess. Chief among these factors is Malaysia’s labor productivity which is not… Continue reading Demographic Advantage
