利用者:Tantal/To Do List/サブノート4

マレーシアの経済
通貨 1 マレーシア・リンギット = 100 セン
Fiscal year 暦年
加盟している貿易機関 APEC, ASEAN, WTO
Statistics [1]
GDP 順位 29th
国内総生産 $357.9 billion (2007 est.)
GDP 成長率 6.3% (2007)
1人あたりGDP(購買力平価 $14,400 (2007 est.)
GDP by sector 農業: 8.6%, 鉱工業: 47.8%, サービス業: 43.6% (2007 est.)
物価上昇率 2.1% (2007 est.)
貧困率 3.5% (2007 est.)
労働力人口 10.89 百万 (2007)
労働力 農業: (13%), 鉱工業: (36%), サービス業: (51%) (2005 est.)
失業率 3.2% (2007)
主要産業 半島部マレーシア - 天然ゴムパーム油、電子・電気機器、スズ、木材加工業

サバ州 - パーム油、観光、石油化学、木材加工業

サラワク州 - 農業、石油化学、木材加工業

Trading Partners [2]
輸出額 169.9 十億ドル(2007 est.)
主要貿易相手国 アメリカ合衆国 18.8%, シンガポール 15.4%, 日本 8.9%, 中華人民共和国 7.2%, タイ王国 5.3%, 香港 4.9% (2006)
輸入額 132.7 十億ドル(2007 est.)
主要貿易相手国 日本 13.3%, アメリカ合衆国 12.6%, 中華人民共和国 12.2%, シンガポール 11.7%, タイ王国 5.5%, 台湾 5.5%, 韓国 5.4%, ドイツ4.4% (2006)
Public finances [3]
公的債務 41% of GDP (2007 est.)
歳入 $41.01 billion (2007 est.)
歳出 $46.96 billion (2007 est.)
Economic aid $31.6 million (2005)
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マレーシアの経済について述べる。マレーシアは、成長し続けている開放経済の国であり、2007年では、1人あたりの国内総生産において、世界で29番目に大きな国までに成長した。2007年時点での国民総生産は、3,579億ドルであり、2007年から2008年にかけての成長率は、6.3%である[1]。東南アジアの国々は、20世紀の後半に急激な経済成長を達成してきた。マレーシア国内には580万世帯があるが、そのうちの8.6%が月あたり収入が1000マレーシア・リンギット以下で生活しており、29.4%が1,000から2,000リンギット以下、19.8%が2,001リンギットから3,000リンギット、12.9%が3,001リンギットから4,000リンギット、8.6%が4,001リンギットから5,000リンギット、15.8%が5,001リンギットから10,000リンギット、4.9%が10,000リンギット以上の収入を得ている[2]

マレーシア、マラッカ海峡を統括する3カ国のうちの1つ(残り2つはインドネシアシンガポール)であり、国際物流における役割は重要な役割を占めている[3]。また、スズ天然ゴムパーム油は、世界最大の生産量を誇る[4] 電子・電気機器を中心とする製造業もマレーシアの経済に多いな影響を持つ[5]

背景[編集]

マレーシア独立前夜[編集]

東南アジアは、植民地化以降、先進国への農業・原料供給地の座に甘んじてきた。半島部マレーシアもその例に漏れず、シンガポールが勃興する以前は、マラッカが経済の中心であったとはいえ、中国で生産された陶磁器あるいは東南アジア各地で栽培された香辛料の輸出港の性格しか保有していなかった。1402年に建国されたマラッカ王国は、ポルトガル1511年にマラッカを占領するまで、マラッカ海峡の支配権を確立していた。マラッカ王国はスラウェシ島(セレベス島)やモルッカ諸島から産出される香辛料を独占していた[6]

17世紀になると、マレー半島の諸王国においてスズが発見された。イギリスがマレー半島を支配するようになると天然ゴムパームヤシプランテーション経営が展開され、マレー半島は、世界最大のスズ、天然ゴム、パーム油の生産地となった。スズ鉱山には中国人労働者が、プランテーションの農場には、インド(特にタミル系)の労働者がそれぞれ従事することとなり、現在のマレーシアの民族構成を形成するようになった。これら3つの一次産品は、マレーシアが独立を達成する20世紀半ばになってもなお、マレーシア経済の中心であった。

独立後[編集]

1970年代を通じて、マレーシアは、アジア四小龍と呼ばれる地域群を追いかける形で経済発展を遂げていった。マハティール・ビン・モハマドルックイースト政策を提唱すると日本韓国の資本がマレーシア国内に流入し、重工業が発展するようになった。1984年の不況を乗り越え、マレーシアは1997年のアジア通貨危機の前年まで、7%台の国内総生産の成長と低インフレーションにより、高度経済成長を達成させた。

Current GDP per capita grew 31% in the Sixties and an amazing 358% in the Seventies but this proved unsustainable and growth scaled back sharply to 36% in the Eighties rising again to 59% in the Nineties led primarily by export-oriented industries.[7] The rate of poverty in Malaysia also fell dramatically over the years. However, its precipitous drop has been questioned by critics who suggest that the poverty line has been drawn at an unreasonably low level.[8]

マレーシア経済において、5年毎に策定される経済計画は、重要なファクターである。1955年に第一次マレーシア計画が策定されて以来、マレーシア政府は、経済に介入を行い、所得の再分配、インフラストラクチャーへの投資を展開することで目標の達成に取り組んできた[9]

イギリス時代の植民地政策の伝統は、半島部マレーシアを構成する3つの民族(マレー人、中国系、インド系)それぞれを分割して統治することにあった。マレー人は伝統的な村落社会に居住し主に農業に従事していた。一方で半島部マレーシアの経済を支配していたのは中国系の人々であり、彼らは商業に従事していた。高等教育を受けたインド系の人々は、医者弁護士といった専門性の高い職業に従事する一方で、プランテーション農園で働くものも見受けられた[10][11]

マレーシア憲法では153条において、多数派のマレー系に対して様々な特権を付与するアファーマティブ・アクションが付与されていた。しかしながら、1969年、首都クアラルンプールで、マレーシア最大の民族間の暴動である5月13日事件が発生すると、マレーシア政府はより積極的に、マレー系の商工業の進出を支援するブミプトラ政策が推進されるようになった。第2代首相アブドゥル・ラザクは、1971年から90年の長期経済計画である新経済計画を策定し、新経済計画を達成するために、第二次マレーシア計画、第三次マレーシア計画が5ヵ年計画で随時策定された。

2006年には、第九次マレーシア計画がスタートした。マレーシアの経済計画は、中央集権的でかつ共産主義的であると言う批判もある。5年という時間軸は、短期間で起こりうる危機的状況あるいは、長期の経済のトレンドには不十分であるという点がその論拠である[12]。効率的な経済計画は常に論議されており、第八次マレーシア計画が終了する2005年の初頭には、資金のおおよそ80%が計画に基づいて支出されていないという主張もあった[13]

There has also been a trend towards government involvement in the economy through government-linked companies (GLCs). Their purpose was to "[level] the economic playing field" and "serve as the vehicles for Malay entry into the private sector" according to one commentator. However, several GLCs were reportedly taken over by the United Malays National Organisation (UMNO), the ruling party, through nominees, resulting in criticism that they were vehicles for corruption.[14]

Tiger economy[編集]

マレーシア経済(マクロ分析)[編集]

以下の表は国際通貨基金(IMF)が算出したマレーシアの国内総生産、為替レート(対アメリカ・ドル)、物価上昇率である[15]

暦年 国内総生産
(in millions)
為替レート
(1 USドル to MYR)
Inflation Index
(2000=100)
1980 54,285 2.17 51
1985 78,890 2.48 64
1990 119,082 2.70 70
1995 222,473 2.50 85
2000 343,216 3.80 100
2005 494,544 3.78 109


1988年から1997年にかけて、マレーシアの経済は持続可能でかつモノカルチャーから様々な製品を製造する経済へとシフトすることに成功した。そのため、アジア通貨危機を克服した1999年には1人あたりの国内総生産は、3,238USドルに到達した。国内外からの投資がマレーシアの経済の成長に大きく寄与したことは疑う余地もなく、1970年段階では13.9%の比重しかなかった製造業が1999年段階で占める割合は30%に至り、一方で、1970年代ではマレーシアのGDPの約4割を占めていた農業・鉱業部門は、それぞれ、9.3%、7.3%まで比重を落とした。マレーシアにおける製造業の中心は、電気・電子製品である。

1971年に策定された新経済政策は、民族間の経済格差の縮小にも力点が置かれていた。 During the same period, the government tried to eradicate poverty with a controversial race-conscious positive program called New Economic Policy (NEP). First established in 1971 following race riots, commonly known in Malaysia as the May 13 Incident, it sought to eradicate poverty and end the identification of economic function with ethnicity. In particular, it was designed to improve the distribution of wealth among the country's population.. The NEP ostensibly ended in 1991, however the policies persist in the form of other programmes such as the National Development Policy. The policies are enforced overtly through race-based quotas for low-cost housing units, university placement, business equity ownership, etc.

Rapid growth was achieved partly through privatisation of inefficient state owned enterprises, thus subjecting them to commercial pressures and forcing them to better utilise their resources. Many deals were done behind closed doors and put through rather quickly. In one example Khazanah Nasional alienated shares in DRB Hicom to Mega Consolidated. This led to such deals being labelled mega projects.

Foreign funds were attracted to invest making the local money market and bourse liquid. This created opportunity for local businesses to raise capital on the KLSE, and carry out infrastructure development in areas like telecommunications, highways and power generation to meet bottlenecks caused by rapid industrialisation. An intense labor shortage created employment for millions of foreign workers. Subsequent events show that more than 50% were illegal.

The influx of foreign investment led to the KLSE Composite index trading above 1,300 in 1994 and the Ringgit trading above 2.5 in 1997. At various times the KLSE was the most active exchange in the world, with trading volume exceeding even the NYSE. The stock market capitalisation of listed companies in Malaysia was valued at $181,236 million in 2005 by the World Bank.[16]

Some of the more visible projects from that period are Putrajaya, a new international airport (Kuala Lumpur International Airport), a hydroelectric dam (Bakun dam), the Petronas Towers and the Multimedia Super Corridor. Proposals that were eventually canceled include the 95 km Sumatra-Malaysia bridge (would have been world's longest), the Mega International Sea and Air port on reclaimed land in Kedah (would have been world's biggest) and the KL Linear City (would have been the world's longest mall and the world's first city built over a river).

Concerns were raised during the time about the sustainability of the rapid growth and the ballooning current account. The mainstream opinion prevalent at that time was that the deficit was temporary and would reverse once imported equipment started producing for export. In spite of that, measures were taken to moderate growth especially when it threatened to overheat into the double digits. The main target was asset prices, and restrictions were further tightened on foreign ownership of local assets. Exposure of local banks to real estate loans were also capped at 20%.

As was widely expected, the current account deficit did narrow steadily, year to year, from 9% to 5% of GDP.

Malaysia has the largest operational stock of industrial robots in the Muslim world.[17]

アジア通貨危機とそこからの回復[編集]

1997年は、高度経済成長を謳歌していたマレーシア経済にとって苦難の年であったと記録された。外国からの直接投資が急激に減少するどころか資本逃避が起こり、マレーシア・リンギットは、1USドルに対して、2.5リンギットから4.8リンギットまで、暴落した。クアラルンプール証券取引所に上場される銘柄で構成される株価指数は2週間で1300ポイントから400ポイントまで急落した。マレーシア政府は、タイインドネシア韓国国際通貨基金(IMF)に緊急支援を要請し緊縮財政を採用するのを尻目に、資本逃避を阻止するために、変動相場制を停止し、1USドル=3.8リンギットに固定し、外貨の流出を防ぐために資本統制を実施した。

それでもなお、1998年の経済成長率はマイナス7.5%を記録したが、1999年には、5.6%成長を達成し、2000年以降は、8%を越える成長を達成した。

固定相場制度は、2005年7月に管理変動相場制度へ移行した。これは、中華人民共和国の人民元切り上げとほぼ同時に実施された[18]。この時点では、マレーシア・リンギットはまだ、自由に国際的に取引される通貨ではなかったが、2008年3月までに、リンギットの価値は、1USD=3.18RMまで高くなっており[19]、徐々にではあるが、マレーシア中央銀行は、資本統制を緩めている。しかしながら、リンギットはかつてのような国際的には流通していない。だが、マレーシア政府は、徐々にではあるがリンギットをかつてのように、国際的に流通させる意向である[20][21]

アファーマティブ・アクション[編集]

1969年の5月13日事件の結果として、マレー系を優遇するアファーマティブ・アクションが経済政策にも採用されている[22]。この事件が発生する以前のマレー系の人口の65%が貧困層として位置づけられており、中国系と比較しても比率は高く、また、中国系がマレーシアの経済の34%を牛耳っていた[23][24]

新経済計画を通じて、ブミプトラ(マレー語で「土地の子」の意味)に対して、優遇される政策が採用された。Through NEP, Bumiputera quotas are placed in housing developments, scholarship admission and also for ownership of publicly listed companies. The quota system has been relaxed recently since the March 8 2008 General election. Bumiputera equity requirement for publicly listed companies has been relaxed since 12 November 2008 by allowing those companies to remove the quota once after IPO has been done.[25]

新経済計画は、1971年に策定された。マレーシア経済におけるマレー系の株式保有比率を30%まで引き上げると同時に、奨学金等の制度を通じて、マレー系のThe Malaysian New Economic Policy was created in 1971 with the aim of bringing Malays a 30% share of the economy of Malaysia and eradicating poverty amongst Malays, primarily through encouraging enterprise ownership by Bumiputeras. After 30 years of the program, the NEP had somewhat met some of its goals. Bumiputera ownership increased to 18.9% in 2004 against 2.4% in 1970 and poverty decreased to 8.3% in 2004 against 64.8% in the 1970s.[26][23][27]

The NEP is accused of creating an oligarchy, and creating a 'subsidy mentality'.[28] Political parties such as Parti Keadilan Rakyat and Democratic Action Party have proposed a new policy which will be equal for every Malaysian, regardless of race.[29] When the Democratic Action Party was elected in the state of Penang in 2008, it announced that it will do away with the NEP, claiming that it "... breeds nepotism, corruption and systemic inefficiency".[30]

Subsidies and Price Controls[編集]

The Malaysian government subsidizes and control prices on a lot of essential items to keep the prices low. Items such as palm oil cooking oil, petrol, flour, bread, rice and other essentials has been kept under market prices to keep cost of living low. In 2008, the government announced that it has spent RM40.1 billion in 2007 in subsidies to keep prices leveled.[31]

Smuggling and hoarding, which leds to shortages, is a prominent problem in Malaysia due to the subsidies. For example, cooking oil is subsidised only for domestic use only. This situation creates an environment where industrial players hoard domestic cooking oil for industrial use. During shortage time, such as the January 2008 cooking oil crisis, the government impose a 5 kg limit for each purchase to relief domestic demand. However, the limited purchase has created more panic buying, which prompt the Government to negotiate with cooking oil manufacturers to increase their production capacity, and situation revert to normal within one week time.[32] Another example is where vehicles in Thailand come to Malaysia to smuggle cheap petrol and diesel out of the country. The government also looking into restructuring the fuel subsidy so that the selected needy group will get the subsidy. The government is considering to remove subsidy on diesel on general consumers while maintaining subsidies for the right groups, for example those involved in public transport.[33]

On May 5, 2008 the Malaysia government raised the price of petrol by 41 percent from MYR1.92 to MYR2.70, (87 cents) a liter, or 10.23 Ringgit ($3.30) a gallon. The government stated that the spiraling fuel subsidy bill that could have been more than 56 billion Ringgit ($17 billion) this year due to rising world oil prices. Diesel prices also were raised upwards of 63 percent to 2.58 Ringgit (80 cents) per liter. In addition to the fuel hike, Malaysia also increased electricity tariffs starting in July by as much as 26 percent for some consumers. The government in the meantime promised cash rebates for owners of vehicles with engine capacities of 2 liters or less, and diesel subsidies for truck and bus operators. According to the Malaysian government the revised energy prices would save the government 13.7 billion Ringgit ($4.4 billion), part of which will be used to help subsidize rising food prices.[34] Before the price revision, Malaysia was spending 7.5 percent of total economic output on fuel subsidy, the highest percentage in the world.[35]

The government has considered to remove the subsidies but a formal plan had yet to materialized as of 2007.[36] In 2008, the government is considering to remove price controls on construction materials such as cement and steel bars while banning exports to ensure steady supply.[37] The government is experimenting with the idea through allowing Sabah and Sarawak construction players to import steel and cement since February 2008.[38] The government then, on May 12, 2008 removed ceiling prices on steel bars and billets and removed import duties on selected items under HS Code 7214.10 110 and 7214.20 910, which do not fully cover steel bars use by the construction industry.[39] The government then further liberalized the cement industry by abolishing ceiling prices on June 5, 2008.[40]

Another strategic item which Malaysia is heavily subsidize but moving towards a market based approach is Natural Gas which is used in the industrial sector. Beginning July 1, 2008, the government is expected to reduce the gas subsidy 5% to 10% per annum over 11 years, in which the gas price will reflect market price.[41]

政府系ファンドの存在[編集]

The government owns and operates several sovereign wealth funds that invests in local companies and also foreign companies. One such funds are Khazanah Nasional Berhad which was established in 1993.[42] Its objective is to help shape selected strategic industries in Malaysia and develop those investment for the benefit of Malaysia.[43] The fund invest in major companies in Malaysia such as Proton Holdings in the automotive sector, CIMB in the banking sector, Pharmaniaga in the medical sector, UEM Group in the construction sector, Telekom Malaysia in the communications industry and many other companies in many other industries.[44] It is estimated that the fund size of Khazanah Nasional stands at around 19 billion USD.[42]

Another fund that is owned by the Malaysian government is the Employees Provident Fund which is claimed to be the fourth largest state run pension fund in Asia.[45] Like Khazanah Nasional, the EPF invests and sometimes owns several major companies in Malaysia such as RHB Bank.[45] EPF investment is diversified over a number of sectors but almost 40% of their investment are in the services sector.[46] Fund size in 2007 is estimated at 100 billion USD.[47]

Pemodalan Nasional Berhad is a major fund manager controlled by the Malaysian Government. It offers capital guaranteed mutual funds such as Amanah Saham Bumiputera and Amanah Saham Wawasan 2020 which are open only to Malaysian and in some cases, Bumiputeras.[48] As of April 2008, it manages MYR120 billion of funds (36 billion USD), of which MYR76 million is unit trust funds.[49] The fund manager is a sizable investor in strategic companies such as MMC Corporation Berhad,[50] Maxis Communications Berhad[51] and TM International Berhad[52] among others.

政府の影響力[編集]

Although the federal government promotes private enterprise and ownership in the economy, the economic direction of the country is heavily influenced by the government though five years development plans since independence. The economy is also influenced by the government through agencies such as the Economic Planning Unit and government-linked wealth funds such as Khazanah Nasional Berhad, Employees Provident Fund and Pemodalan Nasional Berhad.

The government's development plans, called the Malaysian Plan, currently the Ninth Malaysia Plan, started in 1950 during the British colonial rule.[53] The plans were largely centered around accelerating the growth of the economy by selectively investing in selective sectors of the economy and building infrastructure to support said sectors.[53] For example, in the current national plan, three sectors - agriculture, manufacturing and services, will receive special attention to promote the transition to high value-added activities in the respective areas.[54] Other than the generalized plans like the Ninth Malaysia Plan, the government also have a development plan that are targeted to improve the manufacturing sector which is called the Industrial Master Plan. Currently, the plan is called the Third Industrial Master Plan (IMP3) which covers a period from 2006 to 2020. The industrial plans aim to make Malaysia a major trading nation and build up the country's economy and human capital.[55]

Economic Planning Unit (マレー語: Majilis Tindakan Ekonomi Negara), established in 1961[56] was instrumental in steering Malaysia to recovery from the 1997 Asian Financial Crisis. The unit is an agency under the Prime Minister's Department responsible for steering Malaysia's socio-economic development towards achieving a developed-nation status by the year 2020 through various measures such as preparing policies and strategies for socio-economic development, prepare medium and long term plans for the government and most importantly, advise the government on economic issues.[57]

Government-linked investment vehicles such as Khazanah Nasional Berhad, Employees Provident Fund and Pemodalan Nasional Berhad invest and sometimes own major companies in major sectors of the Malaysian economy. For example, Khanazah Nasional is a major shareholder in Proton Holdings, an automaker and CIMB banking group in the financial sector.[58] The government, however, is keen to sell stakes in their companies such as Malaysia Airlines to let the companies remain globally competitive[59]

Natural resources[編集]

Malaysia is well-endowed with natural resources in areas such as agriculture, forestry and minerals. In terms of agriculture, Malaysia is one of the top exporters of natural rubber and palm oil, which together with sawn logs and sawn timber, cocoa, pepper, pineapple and tobacco dominate the growth of the sector. Palm oil is also a major generator of foreign exchange.

Regarding forestry resources, it is noted that logging only began to make a substantial contribution to the economy during the nineteenth century. Today, an estimated 59% of Malaysia remains forested. The rapid expansion of the timber industry, particularly after the 1960s, has brought about a serious erosion problem in the country's forest resources. However, in line with the Government's commitment to protect the environment and the ecological system, forestry resources are being managed on a sustainable basis and accordingly the rate of tree felling has been on the decline.

In addition, substantial areas are being silviculturally treated and reforestation of degraded forest land is also being carried out. The Malaysian government provide plans for the enrichment of some 312.30 square kilometres (120.5 sq mi) of land with rattan under natural forest conditions and in rubber plantations as an inter crop. To further enrich forest resources, fast-growing timber species such as meranti tembaga, merawan and sesenduk are also being planted. At the same time, the cultivation of high-value trees like teak and other trees for pulp and paper are also encouraged. Rubber, once the mainstay of the Malaysian economy, has been largely replaced by oil palm as Malaysia's leading agricultural export.

Tin and petroleum are the two main mineral resources that are of major significance in the Malaysian economy. Malaysia was once the world's largest producer of tin until the collapse of the tin market in the early 1980s. In the 19th and 20th century, tin played a predominant role in the Malaysian economy. It was only in 1972 that petroleum and natural gas took over from tin as the mainstay of the mineral extraction sector. Meanwhile, the contribution by tin has declined. Petroleum and natural gas discoveries in oil fields off Sabah, Sarawak and Terengganu have contributed much to the Malaysian economy. Oil and Gas resources are managed by Petronas, the state controlled oil company which forms production sharing contracts with other players like Exxon-Mobil and Royal Dutch Shell to explore oil fields in Malaysia.

In 2004, Minister in the Prime Minister's Department, Mustapa Mohamed, revealed that Malaysia's oil reserves stood at 4.84十億バレル (769,000,000 m3) while natural gas reserves increased to 89 trillion cubic feet (2,500 km³). This was an increase of 7.2%.[要出典] As of January 1, 2007, Petronas reported that oil and gas reserve in Malaysia amounted to 20.18十億バレル (3.208×109 m3) equivalent.[60]

The government estimates that at current production rates Malaysia will be able to produce oil up to 18 years and gas for 35 years. In 2004, Malaysia is ranked 24th in terms of world oil reserves and 13th for gas. 56% of the oil reserves exist in the Peninsula while 19% exist in East Malaysia. The government collects oil royalties of which 5% are passed to the states and the rest retained by the federal government.[61]

Other minerals of some importance or significance include copper, bauxite, iron-ore and coal together with industrial minerals like clay, kaolin, silica, limestone, barite, phosphates and dimension stones such as granite as well as marble blocks and slabs. Small quantities of gold are produced.

Business Environment[編集]

According to World Bank, Malaysia ranks 24th in Ease of doing business. Malaysia's strengths in the rank includes getting credit (rank 3rd), protecting investor (ranked 4th) and doing trade across borders (ranked 21st). Weaknesses include dealing with licenses (ranked 105th). The study ranks 178 countries in all aspect of doing business.[62] In the investor protection category of the survey, Malaysia had scored a perfect 10 for the extent of disclosure, nine for director liability and seven for shareholder suits. Malaysia is behind Singapore, Hong Kong and New Zealand in investor protection category of the survey[63]

The government is moving towards a more business friendly environment by setting up a special task force to facilitate business called PEMUDAH, which means "simplifier" in Malay.[64] Highlights includes easing restrictions and requirement to hire expatriates, shorten time to do land transfers and increasing the limit of sugar storage (a controlled item in Malaysia) for companies.[65] The Government aims to be in the top 10 in the Ease of doing business survey before 2010 in order to attract even more foreign investors.[66]

The efforts of PEMUDAH is beginning to show fruits as their ranking improved to number 20 in 2009, with marked improvement in four ares: getting credit; dealing with construction permits; paying taxes; and enforcing contracts.[67]

External trade[編集]

Malaysian exports in 2006

Malaysia is an important trading partner for the United States. In 1999, two-way bilateral trade between the U.S. and Malaysia totaled U.S. $30.5 billion, with U.S. exports to Malaysia totaling U.S.$9.1 billion and U.S. imports from Malaysia increasing to U.S.$21.4 billion. Malaysia was the United States' 10th-largest trading partner and its 12th-largest export market. During the first half of 2000, U.S. exports totaled U.S.$5 billion, while U.S. imports from Malaysia reached U.S.$11.6 billion.

The Malaysian Government encourages Foreign Direct Investment (FDI). According to Malaysian statistics, in 1999, the U.S. ranked first among all countries in approved FDI in Malaysia's manufacturing sector with approved new manufacturing investments totaling RM5.2 billion (US$1.37 billion). Principal U.S. investment approved by the Malaysian Investment Development Authority (MIDA) was concentrated in the chemicals, electronics, and electrical sectors. The cumulative value of U.S. private investment in Malaysia exceeded $10 billion, 60% of which is in the oil and gas and petrochemical sectors with the rest in manufacturing, especially semiconductors and other electronic products.

In the first six months of 2007, Malaysia's total trade increased by 2.2% to RM522.38 billion, compared with RM511.11 billion in the same period of 2006.

Free trade efforts[編集]

Malaysia is the founding member of the ASEAN Free Trade Area which was established in 1992 to promote trade among ASEAN members. Most tariffs among the first generation member states were scrapped in 2007. ASEAN itself is increasingly playing a large role in free trade negotiation on behalf of its members. ASEAN as a group hopes to establish a free trade agreement with the European Union by 2009.[68]

The Malaysian Government is negotiating free trade deals with Australia, New Zealand, United States, Chile and India.[69] Officials have expressed desire for free trade agreements their ASEAN members Singapore and Thailand. The Malaysian Trade Ministry released a statement in Vietnam saying that the FTA "has the potential to increase trade, investment cross flows and economic cooperation between the two countries. The agreement would also serve to make Chile a gateway for Malaysia's exports to the Latin American market."[70]

Malaysia signed a Japan-Malaysia Economic Partnership Agreement with Japan on 13 December, 2005.[71] This leads to a Free trade agreement which was in effect from 13 July, 2006 and expected to be fully realized in 2016.[72] The agreement itself is an extension of an FTA between ASEAN and Japan, which is called Asean-Japan Comprehensive Economic Partnership.[73]

On 8 November, 2007, Malaysian and Pakistan signed a bilateral Free Trade Agreement which will come in force on 1 January, 2008. Malaysia will cut tariffs on 140 lines while Pakistan will cut 124 lines. Most tariffs and duty is expected to be eliminated by 2012.[74]

Other conutries that showing interest to establish a free trade agreement with Malaysia are the European Union and Hong Kong. However, before any talks can be made regrading the FTA, Joint Economic Cooperation deal has to be inked and signed first. International Trade and Industry Minister, Tan Sri Muhyiddin Yassin hope that talks will be concluded by end of 2008.[75]

Sectors[編集]

Industry[編集]

Malaysia industrial sector accounts for 48.1 percent of total GDP or 63.4 billion US dollars. The industrial output is ranked 32nd in the world.[76] The industrial sector is regulated and promoted by Malaysia Industrial Development Authority.[77]

Malaysia have 15 companies that rank in the Forbes Global 2000 ranking for 2008.[78]

World Rank Company Industry Revenue
(billion $)
Profits
(billion $)
Assets
(billion $)
Market Value
(billion $)
623 メイバンク 銀行 4.16 0.92 74.12 13.90
625 テナガ・ナショナルen 日用品 6.66 1.16 19.34 12.27
691 en:Sime Darby コングロマリット 7.94 0.74 9.68 21.82
704 ブミプトラ・コマース・ホールディングスen 銀行 3.82 0.84 54.90 11.07
780 テレコム・マレーシアen 通信 5.35 0.76 13.21 12.28
822 パブリック銀行en 銀行 2.79 0.64 52.14 11.08
1038 en:MISC Berhad 輸送 3.24 0.83 8.09 10.48
1198 ゲンティング・グループen ホテルレストラン 2.54 0.60 9.04 7.94
1326 en:IOI Group 食品・タバコ 2.60 0.43 3.94 15.40
1518 プルリス・プランテーション(en 食品・タバコ 0.89 2.08 3.60 4.01
1648 RHB Bank Banking 1.83 0.21 31.47 3.34
1679 Cahya Mata Sarawak Banking 1.75 0.00 29.21 0.21
1771 AMMB Holdings Banking 1.60 -0.06 22.50 2.91
1780 Hong Leong Financial Group Banking 1.07 0.14 22.33 1.54
1791 Petronas Gas Oil & Gas Operations 0.86 0.36 2.75 6.26

Finance & Banking[編集]

Finance and Banking sector in Malaysia is regulated by Bank Negara Malaysia. The central bank limits foreign participation through licensing limits. The central bank launched a Financial Sector Master plan in 2001 to revamp the finance sector following the Asian Financial Crisis. The master plan calls for emphasis on Islamic Banking.[79]

Maybank is Asia-Pacific the largest Islamic banking service provider with US$6.4 billion (RM22.48 billion) Syariah-compliant assets.[80] Malaysia also accounts for two thirds of global $82.2 billion sukuk market in 2007.[81] Khazanah Nasional owns the largest retakaful company in the world, ACR Retakaful Holdings Limited, with capital base amounting to 300 million US Dollars.[82]

A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 48,000 dollar millionaires in Malaysia (over twice that of China).(page 49)

Oil and Gas[編集]

Malaysia has a vibrant Oil and Gas industry. The national oil company, Petronas, provides 32% of the federal budget in taxes, dividends and royalties.[83] The oil company ranked 121 in Fortune Global 500 list of companies in 2007. It also ranked 18 in the industry of the same list.[84] The company has move up to the rank by being 95th in 2008 in terms of revenue and 8th most profitable company in the world and the most profitable in Asia.[85][86] Since inception in 1974, Petronas have paid the government RM 403.3 billion, with RM 67.6 billion in 2008. The payment represents a 44% of the 2008 federal government revenue.[87]

Petronas is also the custodian of oil and gas reserves for Malaysia. Hence, all oil and gas activities are regulated by Petronas. Malaysia encourages foreign oil company participation through production sharing contracts, in which significant amount of oil will be given away to the foreign oil company until it reaches a production milestone. Currently, many major oil companies such as Exxon-Mobil, Royal Dutch Shell, Nippon Oil, and Murphy Oil are involved in such contracts.[88] As a result, 40% of oil fields in Malaysia are developed.[89]

Malaysia and Thailand has a wedge shaped area 150km from Kota Bharu, Kelatan and 260 km from the shores of Songkhla, Thailand which is jointly developed by Petronas and its Thailand counterpart. The area, which is called Malaysia-Thailand Joint Development Area, has 4.5 trillion立方フィート (130 km3) of proven reserves.[90]

See also[編集]

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External links[編集]