MALAYSIA MOVES TO 6th PLACE IN WORLD BANK DOING BUSINESS REPORT

Malaysia has been ranked the 6th easiest place in the world to conduct business, according to the World Bank's annual Doing Business report, up from 12th place last year.

At 6th position, Malaysia is in the same league as Singapore, Hong Kong, New Zealand, the United States and Denmark.

In 2010, soon after Prime Minister Najib Razak assumed office, Malaysia was placed 23rd in the Doing Business rankings. The Prime Minister set a goal that Malaysia should reach the top ten by 2015, an objective that has now been met well ahead of schedule.

A Government spokesperson said:

Malaysia's significant rise in this year's World Bank rankings is testament to the Prime Minister's economic and government reform programmes, which have transformed Malaysia into one of the world's most business-friendly countries.
The World Bank measures the ease of doing business in a country by examining different aspects of the regulatory environment, such as the amount of time it takes to set up a new firm or the number of forms that need to be filled to export goods.

In the sub-categories of the Doing Business report, Malaysia was ranked 1st in the world for Getting Credit  and 4th forProtecting Investors. Malaysia came 5th in the category of ˜Trading Across Borders. Malaysia also made significant improvements in Starting a Business, ˜Dealing with Construction Permits, ˜Enforcing Contracts, Resolving Insolvency, and Getting Electricity.