Malaysia has moved up four places to rank 20 out of a total of 181 economies surveyed in the World Bank Doing Business 2009 Report, released today. Last year, Malaysia was ranked 24th among 178 economies.Malaysia's improved ranking was achieved on the back of initiatives by the high-level public-private sector Special Task Force to Facilitate Business (Pemudah), which has since its inception in February last year, relentlessly pursued the objective of easing the formalities in major aspects of doing business in Malaysia to make the country a cost-competitive destination for investment.

The survey was based on regulations facing investors in 10 categories, which included Starting a business; Dealing with construction permits; Employing workers; Registering property; Getting credit; Protecting Investors; Paying Taxes; Trading Across Borders; Enforcing contracts; Closing a business. The survey covered the period from April 2007 to June 2008.Singapore topped the list on the Ease of Doing Business, followed by New Zealand, the US, Hong Kong and Denmark. Among the Asean countries, Thailand (overall 13th) ranked second after Singapore, followed by Malaysia; Brunei (overall 88) came in 4th, Vietnam (overall 92) was 5th; followed by Indonesia (overall 129); the Philippines (overall 140) and Lao PDR(overall 165) at 6th, 7th and 8th positions respectively.The giant economies in Asia- China and India were ranked at 83 and 122.Malaysia was also among 49 economies recognized in the report to have made it easier to do business, where business registration was simplified and the time taken was reduced with the implementation of online submission for registration. Malaysia is also among 36 economies mentioned to have shown improvement in the category of taxation.

The country improved its position under this category to No.21, a huge jump from the previous 56th position.Pemudah Private Sector Panel Member and Westports Sdn Bhd Executive Chairman, Tan Sri G. Gnanalingam attributed the vast improvement in the taxation category to the efficiency of the Inland Revenue Board (IRB) in particular the latter's online system for tax submission.Malaysia is also mentioned to have the lowest cost to export per container of just US$450, compared to a record high of US$3,000 in Afghanistan. Under the Cost to deal with construction permits, Malaysia also recorded a benchmark low of just 7.9% of income per capita.

Adapted from World Bank Doing Business 2009 Report and NST Online, 10 September 2008