Economy

Malaysia slips one spot to 24th in doing business ranking

Malaysia slips one spot to 24th in doing business ranking”

Malaysia slipped one notch to rank 24th in the World Bank's latest Doing Business Report, down from the 23rd place previous year.

At 24th position, the country is ranked marginally lower than the 23rd spot attained past year.

The country was able to add 0.96 to its overall "Distance to Frontier (DTF)" score from 2017 to weigh in at 78.43 in the index this year, with positive changes indicating improvements in a country's ease of doing business.

According to the World Bank Group's latest "Doing Business" report, Malaysia adopted reforms in the areas of getting credit, trading across borders and protecting minority investors.

The Doing Business report was launched in 2003 and is now in its 15th edition.

It also measures labor market regulations, which has not been included in the rankings.

New Zealand secured the top spot as the country with the most ease of doing business, while Singapore and Denmark took second and third place respectively. In the Asian region, Malaysia ranked fifth, behind Singapore, Republic of Korea, Hong Kong SAR and Taiwan.

"Doing Business records all procedures officially required, or commonly done in practice, for an entrepreneur to start up and formally operate an industrial or commercial business, as well as the time and cost to complete these procedures and the paid-in minimum capital requirement", said the World Bank in its Doing Business website.

"We removed several requirements which had made the incorporation process complicated in the past, especially for small and medium enterprises", he explained.



Like this

loading...
loading...

Latest


01 November 2017
Tom Brady spends Halloween dressed as an avocado
My wife bought it". 'I'm going to bring it every single day, like I've tried to do the last 18 years'. Given Brady's penchant for avocado ice cream, his costume is certainly fitting.

01 November 2017
AT&T expands partnership on business cloud networking products with AWS
FlexWare: AT&T is expanding the reach of how AWS customers can access the cloud more securely. The technology has the ability to process 5 billion security events in only 10 minutes.

01 November 2017
UAE users can now delete embarrassing WhatsApp messages
The most important thing to note is - the message (that you sent by mistake) should be deleted within 7 minutes after it's sent. The feature allows users to share their location with a friend of theirs for a period of 15 minutes, 1 hour or 8 hours.

01 November 2017
Whole Foods hiring 6000 new team members nationwide
But as of now, little information has been announced on what new formats Whole Foods will bring to the table. Candidates can visit the stores Thursday and be interviewed, with opportunities for on-the-spot job offers.

01 November 2017
Super Mario Run Fails to Generate 'Acceptable Profit' for Nintendo
Today, Nintendo France is back on the success of its small console, and the announcement of the " sales stratospheric ". Between Mario , Zelda , and the red-hot Switch, Nintendo hasn't had a year this good in a very long time .

01 November 2017
Metro Detroit man named George Papadopoulos wants you to stop tweeting him
Never had any interaction with any of the campaign leaders around me. Needless to say, the news has set off a firestorm in the media. But the name likeness was also causing him some grief.

01 November 2017
Ingalls & Snyder LLC Increases Holdings in ONEOK, Inc. (NYSE:OKE)
Also Streetinsider.com published the news titled: "Mizuho Securities Starts ONEOK Inc (OKE) at Neutral" on October 09, 2017. BMO Capital Markets has "Buy" rating and $62.0 target. 06/14/2017 - ONEOK, Inc. was upgraded to "buy" by analysts at UBS.

01 November 2017
Patients at Children's Methodist celebrate Halloween early
The patients dress up in costumes as travel throughout the hospital getting gifts, candy and trinkets. That was why Children's Hospital has hosted the Fall Festival for the past 15 years.

01 November 2017
House bill will eliminate state income tax deduction, keep property tax break
The homebuilders' group objected to the removal from the tax plan's latest version of a homeownership tax credit. Despite the uncertainty, Brady had said earlier on Tuesday the GOP plan was still on track.

01 November 2017
TSX hits record as energy stocks rally on oil prices
The Toronto stock market's S&P/TSX composite index was up 49.03 points to 16,051.81 in midafternoon trading Tuesday. Advancing issues outnumbered declining ones on the TSX by 137 to 105, for a 1.30-to-1 ratio on the upside.