Singapore: the Best Place to do business
Yet again our neighbours down south have won another feather in the business cap. The World Bank has ranked them no. 1 in the world for overall ease of doing business. Fuller details and individual country rankings here.
And where does Malaysia stand? No 25 - unchanged from last year. In the region, Thailand ranks ahead of us.
If you study the detail we have particularly appalling ratings on "Dealing with Licenses" and "Enforcing Contracts" while we do quite well in "Getting Credit" (surprise, surprise!) and "Protecting Investors".
The main indicators for "Dealing with Licenses" are:
- all procedures to build a warehouse,
- average time spent during each procedure,
- and official cost of each procedure
Whereas the main indicators for "Enforcing Contracts" are:
- number of procedures from the moment the plaintiff files a lawsuit in court until the moment of payment
- time in calendar days to resolve the dispute,
- and cost in court fees and attorney fees, where the use of attorneys is mandatory or common, expressed as a percentage of the debt value.
Sobering isn't it, especially when our International Trade & Industry Minister is asking foreign investors to go elsewhere.
Technorati: investors, Malaysia, business.
posted by hew @ 3:48 pm
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