A report by the World Bank has ranked Malaysia as the 12th most business friendly country globally, and is first in terms of ease of getting credit.
According to The Star Online, this latest ranking is the highest that Malaysia has achieved since the World Bank and the International Finance Corporation began compiling the annual ranking in 2005.
“According to the Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises report released yesterday, Malaysia was fourth in the world for protecting investors”, the Star reports.
“Malaysia’s position had risen steadily from 23rd in 2010 to the 18th spot this year.”
“The latest ranking puts Malaysia ahead of other highly regarded economies such as Sweden (13th), Taiwan (16th), Germany (20th), Japan (24th) and Switzerland (28th).”
The report by the World Bank covers the period from June 2011 to June 2012. The ranking is based on assessment of regulations in key areas of business, as well as the efficiency of tax administration and the ease of trading across borders.
“The report lauded Malaysia for establishing the Pemudah inter-ministerial level committee to reform business regulations and procedures, and acknowledged the country as being among the top 10 economic reformers in the APEC region.” The Star Online.
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