The debt to GDP ratio is going up in Malaysia. In August the parliament of Malaysia voted for an allowance to borrow 60% of its GDP as a part of temporary measures to ease the crisis of pandemic on business. As for now, the economical situation in the country is no petter so it is Possible for them to borrow even more debt for the future. The good news is that the government is still optimistic about the economy and they hope that in the next year it will be expanded by around 5.5% to 8% from negative growth. For 2020, Malaysia’s GDP will be approximately -5.5% to -3.5%.
The recovery plans are already set in the country. After the pandemic, the situation in Malaysia will be under control but currently, they are facing the worst economic recession in their history. The country needs to have effective health measures in order to come back to a normal way of living as soon as possible. It will bring the economy back and this is what the whole nation is streaming for. Many industries fell in the economic crisis while COVID-19, but there is one industry that never stopped emerging in the Malaysian economy. eSports are helping the country with its investments and events. This billion-dollar global electronic sports industry has attracted so much revenue to the Malaysian economy that one of the country’s future goals should be developing the gaming industry there. It also comes as no surprise that millennials are the driving mass of this trend in the country. Investors in Malaysia are developing the market with new technology just to make sure that eSports will be more widespread in the near future. It all started in 2019 when Malaysians started to be more interested in the benefits of eSports. The government put so much effort into developing this industry that they are not getting the results of that. Malaysia has already god the successful and popular eSport players who have made their names in the industry. The country is working on having regional conferences and summits about this topic. They also want to enhance the support of women in eSports and formulate licensed coaching hubs for it.
Why are investors choosing to invest in Malaysia? Because the possibilities of this country are boundless in the gaming industry. People are really enjoying betting on their favorite gamers too. It is wholesome for Malaysians to see their favorite professional gamers playing their favorite games. It is a very personal and satisfying experience and Malaysia is getting some additional income as a side benefit as well. Like many other Asian countries, eSports betting in Malaysia is continuously expanding. The top online betting sites Malaysia 2020 are also offering different online payment methods that are very comfortable for people. They are also using these experiences as a learning strategy. Today’s video game player might become tomorrow’s professional gamer in eSports with a big income. The gaming industry is one of the biggest players of the nation’s income but there are a few more that are also very important.
Unfortunately, this may be short lived as the country’s strict regulations on gambling can catch up to eSports the moment it is officially recognized under competitive sports and falls under the current legislation. That may be years away, but it is definitely on its way to the local gaming sphere.
Major industries in Malaysia that are helping the economy
Malaysia’s economy is fourteen in Southeast Asia. The country workers are very productive and dedicated to their work. They are always trying to have a better life and education. Malaysians are also forming on financial technologies and working on the industries where one can use the knowledge and good mindset. The major industries that are a big help for the country’s economy are the Electrical and Electronics industry. The sales value of this industry is 290 billion Malaysian ringgit from 2014 to 2018. Developing these industries was not easy but the country worked really hard to meet the modern requirements. The E&E industry was Malaysia’s economic strength since the 1970s, that is why the ministry is always fully engaged in promoting the adoption of nanotechnology in Malaysia. The government believes that nanotechnology in the country can change many things, including the people’s quality of life. This is the game-changing innovative technology with astonishing capabilities and the potential to stimulate the growth of every industry in the country. This will create more valuable and high-quality goods and solutions for the future.
The E&E is the principal and most improved industry in Malaysia and they are always helping the economy during the hard times. Since the founding of the first semiconductor plant in Penang in 1972, Malaysia has grown into an influential global producer of E&E. Four decades in, the country is still investing in it and supporting as much as is possible for the different financial situation in the country. This industry and its development helped Malaysia to be one of the most leading countries in the global electronics industry.