Perak used to be one of Malaysia's wealthiest states until the economic recession hit globally in the late 80s and caused a sharp decline. The collapse of the world's tin industry also affected the Silver State drastically, causing a major closure of its tin mines and forcing the state to reconsider is future strategies. Today, the Perak government has diversified the state's economy by developing value-added, resource-linked manufacturing industries, boosting its services sector as well as a host of others, including agriculture.
The restructuring process has given Perak back its competitive edge and seen a fair share of successes. In 2004, Perak's GDP grew by a robust 5.5% and the growth has since more or less maintained. Despite the present economic slowdown, the Perak Government has remained confident that through its open policies, the investment climate in Perak will remain robust in the years to come.
