Malaysia lags behind Singapore in business index – Bernama
The Malaysian Insider – 21 hours agoRELATED CONTENT
- Malaysia lags behind Singapore in business index – Bernama
Singapore cemented its status as the best place to do business when it topped The Economist Intelligence Unit’s (EIU) business environment ranking.
But, Malaysia is among the top 20 after Austria and surpassing Japan which stood at 23rd place.
Switzerland came second with Australia third in the ranking.
Among regional peers, Malaysia is second after Singapore, followed by Thailand (35th), Indonesia (56th) and Vietnam (59th).
According to the EIU business-environment index released today, Singapore secured its number one position due to its efficient, open economy that worked hard to maintain its competitiveness as a regional hub for global businesses.
Despite stagnation in the eurozone, key economies such as Denmark and Germany continued to provide a stable environment to do business.
The BRIC (Brazil, Russia, India and China) economies, though attractive because of their size, were hard places to do business and scored poorly in the ranking.
This year, China is in 50th place and Russia back in 64th, with Venezuela and Libya trailing behind.
The index, a forward-looking ranking, measures likely trends across 82 countries through to 2019, and is compiled with quantitative data and assessments by the EIU’s country analysts.
Aengus Collins, European analyst at the EIU, said, “The rankings reflect the main criteria businesses use to formulate strategy: politics, the economy, market opportunities, policy towards free enterprise, openness to foreign investment, foreign-trade and exchange controls, taxes, financing, the labour market and infrastructure.” – Bernama, November 20, 2014.
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