Available data indicate that economic conditions, exports performance and foreign direct investment from Malaysia increased significantly in the 1990s. Existing literature on the internationalization of firms is based on the study of firms from developed countries and does not directly apply to the case of firms based in developing economies, and Malaysia particularly. Based on this phenomenon, this study attempts to examine the process of internationalization among Malaysian firms into the foreign markets and compare the internationalization process of Malaysian firms with other developed countries. This study will contribute to the knowledge gap with empirical data from rapidly internationalizing firms, in respect of the Malaysian firms' experiences, organizational learning and capability creation that will offer fruitful approaches to understanding the dynamic of firms' expansion. The resulting model could assist policy makers to improve existed support programs for businesses to overcome barriers and enhance performance in internationalization process.