Ease of doing business report puts Malaysia in top 20

PETALING JAYA: Despite global economic uncertainties, Malaysia remains in 18th spot out of 189 economies in the World Bank’s “Ease Doing Business Report 2016”.

The report recognised Malaysia as among the top 20 economies in the world with the most business-friendly regulations, and acknowledged the country’s significant improvements in regulatory processes.

Within Asean, Malaysia is ranked second, behind Singapore.

The report ranked Malaysia ahead of economies such as Switzerland (26th), France (27th), Netherlands (28th), Japan (34th), United Arab Emirates (31st), Thailand (49th), China (84th) and India (130th).

"It’s yet another affirmation of the efficacy of the Government’s efforts to resolve operational inefficiencies and review procedures and regulations under the Government Transformation Programme and the Economic Transformation Programme,” said International Trade and Industry Minister Datuk Seri Mustapa Mohamed in a statement Wednesday.

It was reported that Malaysia improved from the 20th spot in 2014.

Mustapa said the high ranking accorded to the country was a testament to the work of the joint-public-private sector Special Taskforce to Facilitate Businesses (Pemudah).