ID :
79131
Wed, 09/09/2009 - 14:44
Auther :
Shortlink :
https://oananews.org//node/79131
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MALAYSIA MAINTAINS HIGH SPOT AMONG DESTINATIONS FOR DOING BUSINESS
BANGKOK, Sept 9 (Bernama) -- Malaysia dropped three rungs to rank 23rd out of a total of 183 economies surveyed in the World Bank's Doing Business 2010 Report released Wednesday.
Ranked fourth overall in Asia, Malaysia for the third consecutive year
became the easiest place to get credit in the world, as well as the cheapest
cost in Asia to export per container at US$450, and the second lowest to import
at US$450.
Malaysia, placed 24th overall two years ago, was ranked fourth in protecting
investors, paying taxes (24), trading across borders (35), closing a business
(57), enforcing contracts (59), employing workers (61), registering property
(86), starting a business (88) and dealing with construction permits (109).
The World Bank said Malaysia eased business start-up with a new one-stop
shop to streamline registration, adding that the service was still new and the
government was planning a public awareness campaign about the new system.
In addition, the Malaysian Institute of Chartered Secretaries and
Administrators (Maicsa) reduced company incorporation charges and corporate
fees.
"Enforcing contracts through the courts was made easier by increased staff
and stricter deadlines that have shortened case filing times from 45 days to 30.
"In addition, the commercial court has been reorganised to dispose of
interlocutory matters more swiftly," the bank said.
Singapore, a consistent reformer, is the top-ranked economy on the ease of
doing business for the fourth year in a row, with New Zealand in second
place and Hong Kong third.
Thailand is ranked third in Asia and 12th in the world, one rung better than
the previous year.Among the other south east asian countries, Vietnam is ranked
93rd, the Philippines 144th, Laos 167th, Indonesia 122nd, Cambodia 145th and
Brunei 96th.
The World Bank said Singapore introduced online and computer-based services
to ease business start-up, construction permits, and property transfers.
According to the "Doing Business 2010: Reforming through Difficult Times",
between June 2008 and May this year, a record 131 of 183 economies around the
globe reformed business regulation.
Indonesia, the region’s most active reformer, moved up to 122nd spot from
129th on the global ease of doing business rankings.
"Business regulation can affect how well small and midsize firms cope with
the crisis and seize opportunities when recovery begins," said Penelope Brook,
Acting Vice President for Financial and Private Sector Development at the World
Bank Group.
He said the quality of business regulation helps determine how easy it is
for troubled firms to survive difficult times and the speed at which local
entrepreneurs would star.
Other reforms occurred throughout the region, said the report, citing among
others China, ranked 89th, which made it easier for domestic firms to trade by
relaxing rules on trade credit.
-- BERNAMA
Ranked fourth overall in Asia, Malaysia for the third consecutive year
became the easiest place to get credit in the world, as well as the cheapest
cost in Asia to export per container at US$450, and the second lowest to import
at US$450.
Malaysia, placed 24th overall two years ago, was ranked fourth in protecting
investors, paying taxes (24), trading across borders (35), closing a business
(57), enforcing contracts (59), employing workers (61), registering property
(86), starting a business (88) and dealing with construction permits (109).
The World Bank said Malaysia eased business start-up with a new one-stop
shop to streamline registration, adding that the service was still new and the
government was planning a public awareness campaign about the new system.
In addition, the Malaysian Institute of Chartered Secretaries and
Administrators (Maicsa) reduced company incorporation charges and corporate
fees.
"Enforcing contracts through the courts was made easier by increased staff
and stricter deadlines that have shortened case filing times from 45 days to 30.
"In addition, the commercial court has been reorganised to dispose of
interlocutory matters more swiftly," the bank said.
Singapore, a consistent reformer, is the top-ranked economy on the ease of
doing business for the fourth year in a row, with New Zealand in second
place and Hong Kong third.
Thailand is ranked third in Asia and 12th in the world, one rung better than
the previous year.Among the other south east asian countries, Vietnam is ranked
93rd, the Philippines 144th, Laos 167th, Indonesia 122nd, Cambodia 145th and
Brunei 96th.
The World Bank said Singapore introduced online and computer-based services
to ease business start-up, construction permits, and property transfers.
According to the "Doing Business 2010: Reforming through Difficult Times",
between June 2008 and May this year, a record 131 of 183 economies around the
globe reformed business regulation.
Indonesia, the region’s most active reformer, moved up to 122nd spot from
129th on the global ease of doing business rankings.
"Business regulation can affect how well small and midsize firms cope with
the crisis and seize opportunities when recovery begins," said Penelope Brook,
Acting Vice President for Financial and Private Sector Development at the World
Bank Group.
He said the quality of business regulation helps determine how easy it is
for troubled firms to survive difficult times and the speed at which local
entrepreneurs would star.
Other reforms occurred throughout the region, said the report, citing among
others China, ranked 89th, which made it easier for domestic firms to trade by
relaxing rules on trade credit.
-- BERNAMA
