KUCHING: Malaysia can improve its standing internationally with cooperation between the government and private sector, said Malaysia Productivity Corporation (MPC) director general Datuk Abdul Latif Abu Seman.
He pointed out Malaysia is ranked 12th out of 190 countries in The World Bank Doing Business 2020 Report.
“If possible, we can improve our standing to number 10, while in the World Economic Forum’s Global Competitive Report, Malaysia is at number 27 and we hope to move up to the top 20,” he said during MPC’s appreciation dinner on Wednesday.
He said these reports are very important for investors to see Malaysia as a country that provides a conducive environment for doing business.
Abdul Latif said business regulations, including licence and permit procedures, also affect foreign investment.
“For example, back 10 to 12 years ago, for building permits, Malaysia required 37 procedures, which took 260 days to obtain, while Singapore only needed 10 procedures, which took 30 days for approval. As an investor, which country would you choose?” he asked.
This placed Malaysia at 113 out of 190 countries in obtaining building permits in the World Bank Report.
He said to address this all relevant agencies were called and the 37 procedures were reduced to nine, which took 54 instead of 260 days for approval, moving Malaysia up to number two in the report.