Malaysia's improvement in its ranking in the World Bank's Ease of Doing Business 2020 Report to 12th from 15th in 2019 is a result of the government’s successful institutional reforms, says Finance Minister Lim Guan Eng today. Its current ranking in the report, which is a measure of business regulations and its implementation in 190 countries, is Malaysia's best since 2015, and is due to regulatory reforms that made starting a business and dealing with construction permits easier, Lim said in a statement. Malaysia is among the most improved country in the latest World Bank's Worldwide Governance Indicators for 2018, again "thanks to wide-ranging institutional reforms carried out by this government", Lim noted. The WGI, he explained, measures institutional quality across 214 countries by accounting for six dimensions: accountability, political stability, government effectiveness, regulatory quality, rule of law and corruption. The government, he reiterated, remains committed to implementing its institutional reforms, while supporting economic growth in line with the overall Shared Prosperity Vision 2030.

Posted by

The Edge Markets