Pemudah's target is to move up into the top 10 ranking in the shortest time possible, he said at a media briefing during a one-day conference on Improvements in Government Services to Enhance Business Competitiveness in Kuala Lumpur yesterday.

Chief Secretary to the Government Tan Sri Mohd Sidek Hassan, meanwhile, said investment decisions are to some extent influenced by competitiveness rankings put out by the World Economic Forum, Institute of Management Development and the World Bank.

"Malaysia cannot afford to stay on the sidelines of the competition because of our economy where international trade and investment contribute significantly to economic growth and development," said Mohd Sidek, who is also Pemudah co-chair.

Companies Commission of Malaysia chief executive officer Abdul Karim Abdul Jalil was also upbeat about Malaysia's international ranking on the effectiveness of doing business this year.

The commission has introduced e-Lodgement, a facility that allows businesses to file statutory documents electronically, which has even caught the attention of World Bank officials.

"With e-Lodgement, we can incorporate a company in Malaysia within half an hour, which places us on par with Australia, New Zealand and the UK," Abdul Karim said. - By Rupa Damodaran