Malaysia in World Bank's Top 25 ranking
Update Date：2016-10-28 10:37:44 Source：Tannet (Malaysia) Sdn Bhd Views：643
KUALA LUMPUR: Malaysia remains in top 25, out of 190 countries, in the latest World Bank’s ease of doing business ranking. The country ranked 23rd, down a notch from last year, in the World Bank’s “Doing Business 2017” report. Malaysia was ahead of Switzerland (31st), France (29th), the Netherlands (28th), the United Arab Emirates (26th), Japan (34th), China (78th) and India (130th). The annual report listed Malaysia ahead of its Asean peers such as Thailand, Indonesia, the Philippines and Vietnam and behind only Singapore. The World Bank noted that Malaysia had attained a perfect score on the depth of credit information index. Two reforms enabled Malaysia to attain the perfect score. They were the strengthening of credit reporting by providing consumers credit scores, and making it easier to pay taxes by introducing online filing. “Now it takes a medium-size firm only nine payments to comply with taxes, versus 13 payments the previous year. “These (the credit score and online tax) make Malaysia more competitive in terms of business environment,” said World Bank Group Malaysia country manager Faris Hadad-Zervos yesterday. “The government is steadily working towards improving its business regulatory environment. These are positive reforms that we have to take into account,” he added. Malaysia is the third best economy in the world in terms of protecting minority investors. He said Malaysia’s slightly lower position this year was mainly due to the change in methodology and the implementation of the Goods and Services Tax. “The drop in ranking doesn’t take away from the good steps that Malaysia, in terms of the public-private partnership, has done in terms of affecting continued change in the country,” said Faris. “It is encouraging to see that the economy has continued to implement reforms to ease the process of doing business,” he said. Meanwhile, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Malaysia remained one of the leading business-friendly nation in the world despite a drop in the ranking.
Read More : http://www.nst.com.my/news/2016/10/183701/malaysia-world-banks-top-25-ranking
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