Malaysia is not famous for its wild natural beauty and man-made infrastructure like skyscrapers like the iconic Petronas Twin Towers. What is more, it is also a mosaic of different cultures, receiving Malaysian, Chinese, Indian and European influences.
Malaysia takes the 6th place among 43 countries in the Asia–Pacific region in terms of economic freedom. The trade regime in the country is relatively open. Labor regulation, without a minimum wage, are not rigid. However, the judicial side is vulnerable to political influence. This is a significant challenge to the rule of law.
In 2019, the government sets out to resolve high public debt and attract additional investments. The key areas are the production of high-technology and knowledge-based goods and services. This has made Malaysia an upper-middle-income country among the SEA region. In order to enhance competitiveness and freedom, the government determines to practice further liberalization of some services sub-sectors. Additionally, some changes in tax reform, and subsidy policies are also taking place.