Malaysia's Chemical Investments Continue to Flourish

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Researched by Industrial Info Resources (Sugar Land, Texas)--The rapid development of the petrochemical and chemical sectors in Malaysia has been monumental as the government works aggressively to aid the economic recovery.

Malaysia's government has ratified the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), a free-trade agreement signed among Australia, Brunei, Canada, Chile, Japan, Mexico, Peru, New Zealand, Singapore and Vietnam. The agreement will have an impact on Malaysia's chemical market because it will provide a wider range of raw materials at competitive prices, and grow the country's standing as an investment destination.

By January 1, 2033, 100% of Malaysian exports to countries in the CPTPP will be duty-free, and exports to New Zealand and Canada will be duty-free in 2024 and 2029, respectively.

Industrial Info is tracking more than 450 active Chemical Industry projects in Malaysia, worth US$7.5 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a full list of detailed project reports.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).