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Malaysia Is 6th Friendliest Country In The World To Do Business. Are You Surprised?

World Bank's Doing Business 2014 report ranked Malaysia as 6th friendliest country in the world to do business.

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According To The 2014 Doing Business Report, Malaysia Is Top 10 Most Business-Friendly Places Out Of 189 Economies

Georgia, Malaysia, and eight high-income economies are among the 10 most business-friendly places on the globe.

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According To The 2014 Doing Business Report, Malaysia Is Top 10 Most Business-Friendly Places Out Of 189 Economies

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Photo for illustration: Russia's Foreign Minister Sergey Lavrov and his Malaysian counterpart Anifah Aman shake hands before the start of the Association of Southeast Asian Nations - Russia Ministerial Meeting at the 46th ASEAN Foreign Ministers Meeting in Bandar Seri Begawan July 1, 2013.

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This Is The First Time Malaysia Has Advanced Into Top 10

Malaysia advanced for the first time into a top 10 ranking of nations the World Bank deems friendliest to businesses as Singapore (SGDPQOQ) led the annual competitiveness scorecard for an eighth straight year.

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International Trade and Industry Minister Datuk Seri Mustapha Mohamed, said Malaysia had aimed to be in the World Bank's Doing Business 2014 top 10 list by 2015.

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Malaysia Moved To 6th Place From 12th Place (2012)

Malaysia vaulted to sixth from 12th a year ago. Rounding out the top five after Singapore were Hong Kong, New Zealand, the U.S. and Denmark, unchanged from a year ago. China slid five spots to 96th, while the U.K. dropped to 10th from seventh.

doingbusiness.org

Malaysia moved from 6th place from 12th place (2012) in the World Bank's Doing Business Report 2014.

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This Means That Malaysia's Regulatory Environments Are Better For Local Firms To Start Up And Operate

Malaysia vaulted to sixth from 12th a year ago after easing procedures for registering a company, applying for a construction permit and getting electricity, the bank said in its 2014 “Doing Business” report.

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Malaysia's regulatory environments are better for local firms to start up and operate.

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Countries with high rankings, according to the World Bank website, meant that their respective regulatory environments made it better for local firms to start up and operate.

thestar.com.my

The Report Says Malaysia Made It Easier For People To Deal With Construction Permits By Coming Up With A One-Stop Shop

The report said Malaysia also made it easier for people to deal with construction permits by coming up with a one-stop shop. Even getting electricity was a factor.

thestar.com.my

Secretary-General Of Transparency International's Malaysia Arm, "Malaysia Has Done A Good Job...But We Still Need To Strengten Business Integrity And Anti-Bribery Practices."

Dr. Loi Kheng Min was born in Sabak Bernam, Selangor in 1957. He is the secretary-general of Transparency International’s Malaysia arm.

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“Malaysia has done a good job in streamlining business processes in the past few years,” K.M. Loi, secretary-general of Transparency International’s Malaysia arm, said in a phone interview today. “But we still need to strengthen business integrity and anti-bribery practices. Corruption hurts everybody.”

bloomberg.com

International Trade And Industry Minister Says The Ranking Helped To Reinforce Malaysia's Position As A Preferred Destination For Trade And Investments

International Trade And Industry Minister says the ranking helped to reinforce Malaysia's position as a preferred destination for trade and investments.

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“Soon after Prime Minister Datuk Seri Najib Tun Razak assumed office, Malaysia was in 23rd place. The rise to sixth place is testament to his stewardship and a result of the economic and government transformation programmes,” said International Trade and Industry Minister Datuk Seri Mustapha Mohamed.

thestar.com.my

The 2014 Doing Business Report Is An Annual Survey Of The Ease Of Doing Business Around The World

The 2014 Doing Business Report – an annual survey of the ease of doing business around the world – finds an uptick in the pace of business regulation reform in the past year, with 114 economies enacting 238 reforms, vs. 108 economies and 201 reforms in 2011-12.

worldbank.org

The World Bank's Doing Business Report 2014.

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However, Non-Profit Groups Like Oxfam Have Criticized The Study's Methodology

The World Bank’s study, in its 11th year, covered a record 189 economies, assessing them on measures such as the costliness of commercial regulations and the strength of public institutions. Nations are ranked based on indicators such as the time required to start a business, file tax returns and export or import goods.

bloomberg.com

Non-profit groups such as Oxfam have criticized it and India, which slid two spots to 134th, has questioned its methodology.

bloomberg.com

OTHER STORIES FOR YOU: Malaysia Named Top 10 Travel Destinations For 2014 And 10 Things Anwar Hates About Najib's Financial Sense

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