Malaysia achieved commendable successes in the past decades. Real gross domestic product increased by 5.2% during 2001–2020, exceeding the global growth of 3.5% for the same period.
In the Global Competitiveness Report 2019, Malaysia is the 27th most competitive among 141 countries. However, challenges related to globalization, economic liberalization, and rapid expansion of information and communications technology, significantly impacted on Malaysia’s journey to become a fully developed country.
In Malaysia, BIMP-EAGA covers the states of Sabah and Sarawak and the federal territory of Labuan.
Sarawak and Sabah are part of the West Borneo Economic Corridor (WBEC), which also includes Brunei Darussalam and West Kalimantan in Indonesia.
Sabah is part of the Greater Sulu–Sulawesi Corridor (GSSC), which also includes North Sulawesi in Indonesia, and Mindanao and Palawan in the Philippines.