Malaysia
Rapid growth since independence, and especially in the 1980s, enabled Malaysia to transition from an agriculture-based economy to a semi-industrialized nation by the new millennium. Agriculture had the highest contribution to the economy at around 30% in the 1970s but was superseded by services, accounting for over 50% of economic activity by 2019.
Robust growth continued in the past 2 decades, and while growth narrowed in recent years, private consumption remained the driver of economic expansion, with significant contributions from tourism, small and medium-sized enterprises, and knowledge-based services. Inflation remained low.
As an upper middle-income country, the country’s poverty rate is low at 0.4% by 2016 when compared to 49% in 1970. With much progress also being made toward increasing incomes, Malaysia’s focus has shifted to addressing the well-being of the population. Reforms have been initiated toward increasing private investment, improving productivity, and empowering human capital. The Government of Malaysia also places strong emphasis on promoting regional Malaysia cooperation, particularly initiatives that enhance environmental sustainability.
In Malaysia, BIMP-EAGA covers the states of Sabah and Sarawak and the federal territory of Labuan.
Sarawak and Sabah are part of the West Borneo Economic Corridor (WBEC), which also includes Brunei Darussalam and West Kalimantan in Indonesia.
Sabah is part of the Greater Sulu–Sulawesi Corridor (GSSC), which also includes North Sulawesi in Indonesia, and Mindanao and Palawan in the Philippines.
BIMP-EAGA Officials and Contacts in Malaysia
Minister
H.E. Dato' Seri Mohamed Azmin Bin Ali
Minister of Economic Affairs
Senior Official
Dato' Saiful Anuar Bin Lebai Hussen
Secretary General
Ministry of Economic Affairs
National Secretariat
Dr. Suhana Md Saleh
Deputy Director, Regional Development Section, Economic Planning Unit
Ministry of Economic Affairs
Priority Infrastructure Projects with Malaysia as Lead Country
As of 14 November 2019
| No. | Project Name | Estimated Project Cost (US$ Million) |
|---|---|---|
| 1 | Pan-Borneo Highway (Sarawak and Sabah) | 7,000 |
| 2 | Construction of Kalabakan Road, Serudong (Sabah) | 193 |
| 3 | Limbang Bridge (Sarawak) | 50 |
| 4 | Sandakan Airport | 20 |
| 5 | Mukah Airport | 93 |
| 6 | Expansion of Sepangar Bay Container Port | 231 |
| 7 | Lahad Datu Palm Oil Industrial Cluster (Container Port) | 201 |
| 8 | Dredging of Tawau Port | 6 |
| 9 | Dredging of Kuching Port | 100 |
| 10 | Limbang Hydro Project 1 (Sarawak-Sabah Interconnection) | 160 |
| 11 | Limbang Hydro Project 2 (Sarawak-Sabah Interconnection) | 345 |
| 12 | Limbang Hydro Project 3 (Sarawak-Sabah Interconnection) | 487 |
| 13 | Lawas Hydro Project (Sabah-Sarawak Interconnection) | 211 |
| 14 | Bekalalan Border Immigration Post | 4 |