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.
By kenjobenho — 30 Oct 2013, 05:15 PM — Updated over 10 years ago
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.
According To The 2014 Doing Business Report, Malaysia Is Top 10 Most Business-Friendly Places Out Of 189 Economies
Image via imgur.com
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.
Image via msn.comThis 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.
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.
Image via tumblr.comMalaysia 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.
Image via tumblr.comThis 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.
Malaysia's regulatory environments are better for local firms to start up and operate.
Image via palmoilhealth.orgCountries 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.myThe 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.mySecretary-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.
Image via rezzen.com.my“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.”
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.
Image via tumblr.com“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.myThe 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.
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.
Non-profit groups such as Oxfam have criticized it and India, which slid two spots to 134th, has questioned its methodology.
