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Malaysia placed 12th out of 190 countries in World Bank’s Doing Business 2020 Report

24 Oct 2019 / 11:42 H.

PETALING JAYA: Malaysia is now ranked 12th among 190 economies worldwide, a further improvement from 15th position the previous year, said the Ministry of International Trade and Industry (Miti).

Miti Minister Darell Leiking (pix) said Malaysia’s 12th place in the Doing Business 2020 Report is due to the public and private sector members’ collaboration and commitment within the technical working groups under the Special Task Force to Facilitate Business (Pemudah) to improve ease of doing business environment.

“This was supported by strong leadership from Pemudah and advisory contributions from the World Bank Group. Malaysia Productivity Corporation (MPC) as the Secretariat of Pemudah works closely with the respective technical working groups to initiate and monitor the implementation of various improvement initiatives,” he said in a statement today.

The Doing Business Report surveys regulations governing business activities in the economies which are then ranked according to their ease of doing business scores based on quantitative indicators of the regulations.

The report measures the processes for business incorporation, getting a building permit, obtaining an electricity connection, transferring property, accessing to credit, protecting minority investors, paying taxes, engaging in international trade, enforcing contracts and resolving insolvency.

Leiking also said Pemudah was restructured in 2019 with improvements in its functions, organisation and operation for a leaner approach to expedite the resolving of issues as well as to reinvigorate its membership with broader industry expertise and greater wealth of experience.

“Pemudah consistently launches improvement initiatives that impact positively on the ease of doing business by promoting regulatory efficiency, productivity and good governance,”

“The recent launching of the Unified Public Consultation Portal (UPC) is part of the Good Regulatory Practice (GRP) agenda which enables the details of proposed regulations to be disseminated online to stakeholders and the general public, and for feedback and constructive suggestions in formulating more effective regulations,” he said.

He added that Malaysia’s improved performance attests that on-going reform initiatives are on the right track to further enhance competitiveness, productivity and governance in the ease of doing business as well as to promote investments, which will accelerate national economic development and prosperity.

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