Wednesday, 3 July 2013

A Guide to Living in Malaysia

A Guide to Living in Malaysia

Author: Style Resumes

A great place to live and work

A number of expats go to Malaysia either to work, live or even retire there. When it comes to working in Malaysia, it's not always easy to get a work permit or even to find a job there. Once you're there, plenty of other issues will require your attention.

Malaysia is a highly industrialized and open economy. Thus, the country's economic status is among the most successful in Asia. The secret behind Malaysia's economic success is twofold: international trade and manufacturing.

Malaysia is also an important center of Islamic finance. In fact, a lot of women work in the Islamic banking sector. Like many other countries in Asia, in Malaysia, too, the focus is shifting from agriculture towards the industrial and services sector.

Malaysia - An economic overview

Traditionally, Malaysia's economy used to have a strong focus on producing rubber, tin, and palm oil. The large reserves of petroleum, liquefied natural gas and natural resources available in the country has boosted this even further. As a result, the focus of the local labor force has shifted from an economy that used to be based on agriculture and mining, towards one that has, in the past three to four decades, begun to be driven by the petrochemical industries.

Malaysia is presently among the leading exporters of electrical goods, semiconductors, and IT/CT products. On the other hand, some other industries aren't doing very well here. This has occurred due to competition from other low-cost economies, as well as a direct result of the aforementioned expansion of the services sector.

The number of people working in the agricultural sector is far lower than those employed in services and industries. While 47 per cent of the active population is working in the service sector, 41 per cent others are employed in various industries. On the other hand, only 12 per cent of the active working population is employed in the agricultural sector.

Profitable sectors

Even though Malaysia is actively trying to move away from an over-reliance on export, this is proving to be extremely difficult. As noted earlier, Malaysia produces electronics, petroleum-based products, palm oil, semiconductor devices, textiles and timber, as well as information and communication technology (ICT) for export.
ICT in particular continues to grow at a rapid rate in Malaysia, creating employment opportunities for many. Similarly, other areas which are also expanding rapidly include science (areas such as biotechnology, nanotechnology, and renewable energies) and tourism (including leisure as well as medical tourism).

There are a large number of multinational companies that have operations in Malaysia. These include Shell, Accenture, CIMB Group, HSBC, Exxon Mobil, Maybank, Pricewaterhouse Coopers, KPMG, Public Bank Berhad and Schlumberger.

Criteria for expats

Those looking for employment in Malaysia need to be granted expat status before they can apply to work here. Anybody looking for employment in the country can approach the dedicated expat committee that is present here. It is the job of the committee to answer any queries regarding expat employment.

However, as a general rule, two preliminary requirements must be fulfilled by prospective expats. Firstly, they must earn a minimum salary of RM 5,000 per month and secondly, their work contract must be for at least two years. Over and about that, only those people who occupy one of the following positions qualify to become expats in Malaysia:

• Key post: A person holds a top managerial position in the company.
• Executive post: A person occupies a middle management post; additionally, he must have relevant professional experience backed by the proper academic qualifications.
• Non-executive post: A person is highly skilled and has immense technical know-how, as a result of which he is indispensable to the company.

Once you have figured out whether or not you fit into one of these categories, the rest becomes relatively easier. You can then concentrate on moving to Malaysia and taking care of all the associated things that need to be taken care of. And if you feel at wits end to do it yourself, Asia Expat Guides can help! With our range of services, you will have nothing to worry about.

Article Source: http://www.articlesbase.com/economics-articles/a-guide-to-living-in-malaysia-6664589.html

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