In 2015, Malaysia's economy was one of the most competitive in the world, ranking 14th in the world and 5th for countries with a population of over 20 million, higher than countries like Australia, United Kingdom, South Korea and Japan.[17]
According to a June 2013 report by the World Bank, Malaysia ranks 6th in the world in the Ease of doing business index, Malaysia's strengths in the ranking includes getting credit (ranked 1st), protecting investors (ranked 4th) and doing trade across borders (ranked 5th).[61] Weaknesses include dealing with construction permits (ranked 43rd). The study ranks 189 countries in all aspect of doing business.[62] In the investor protection category of the survey, Malaysia had scored a perfect 10 for the extent of disclosure, nine for director liability and seven for shareholder suits. Malaysia is behind Singapore, Hong Kong and New Zealand in investor protection category of the survey.[63]
The government is moving towards a more business friendly environment by setting up a special task force to facilitate business called PEMUDAH, which means "simplifier" in Malay.[64] Highlights includes easing restrictions and requirement to hire expatriates, shorten time to do land transfers and increasing the limit of sugar storage (a controlled item in Malaysia) for companies.[65]
PEMUDAH has been largely successful at facilitating a more business friendly environment, as reflected by the 2013 rank of Malaysia in the Ease of doing business index.
In 2015, Malaysia's economy was one of the most competitive in the world, ranking 14th in the world and 5th for countries with a population of over 20 million, higher than countries like Australia, United Kingdom, South Korea and Japan.[17]According to a June 2013 report by the World Bank, Malaysia ranks 6th in the world in the Ease of doing business index, Malaysia's strengths in the ranking includes getting credit (ranked 1st), protecting investors (ranked 4th) and doing trade across borders (ranked 5th).[61] Weaknesses include dealing with construction permits (ranked 43rd). The study ranks 189 countries in all aspect of doing business.[62] In the investor protection category of the survey, Malaysia had scored a perfect 10 for the extent of disclosure, nine for director liability and seven for shareholder suits. Malaysia is behind Singapore, Hong Kong and New Zealand in investor protection category of the survey.[63]The government is moving towards a more business friendly environment by setting up a special task force to facilitate business called PEMUDAH, which means "simplifier" in Malay.[64] Highlights includes easing restrictions and requirement to hire expatriates, shorten time to do land transfers and increasing the limit of sugar storage (a controlled item in Malaysia) for companies.[65]PEMUDAH has been largely successful at facilitating a more business friendly environment, as reflected by the 2013 rank of Malaysia in the Ease of doing business index.
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