Kuala Lumpur, October 28, 2015—A new World Bank Group report finds that Malaysia has retained its position among the top 20 economies worldwide and first among emerging economies in East Asia on the ease of doing business.
For the 10th consecutive year, Singapore ranks number one in the world on the World Bank Group's annual ease of doing business measurement. Also among the top 20 economies, in addition to Malaysia (18), are New Zealand (ranked 2), Republic of Korea (4), Hong Kong SAR, China (5), Taiwan, China (11) and Australia (13).
Using comparable methodology, Malaysia is ranked 18 among 189 economies in 2015, compared with 17 in 2014. Malaysia will have the opportunity to improve its consistently strong business environment further by reducing the procedures for construction permits and time taken to pay taxes.
“Malaysia’s improvements in the ease of doing business, such as, by reforming business registration requirements, have benefited local entrepreneurs, who now have fewer hurdles to comply with and more resources to focus on their business,” said Faris Hadad Zervos, World Bank Country Manager for Malaysia. “Malaysia’s dynamic approach toward assisting business development is recognized globally with its ranking as one of the 20 best economies in the world in which to do business.
Doing Business in Malaysia
We work closely with our Malaysia-based network firms, Su Sin & Co. & CSH Group, to ease the business owners' transition of entering Malaysia, helping them to navigate the complex rules and regulations to set up operations there.
Su Sin & Co. & CSH Group have developed a strong local knowledge and understanding of getting things done faster and more effectively for their clients.
For more information, contact us now and let us explore the possibilities to expand to Malaysia with you.