Lack of Investment & Financial Freedom drags down Malaysia's "Freest Economy" Ranking
The Heritage Foundation and Wall Street Journal's annual index of Economic Freedom has once again placed Hong Kong at the top of the list followed by Singapore.
Malaysia has shown some improvement to climb to 48th place from 68th position last year. As usual, we fared badly in terms of Investment Freedom & Financial Freedom (which should come as no surprise to us).
Restrictive Foreign Investment guidelines, bumiputera equity rulings as well as restrictions on foreign involvemment in the financial industry are cited as the main reasons for the low scores.
Our Corruption index doesn't score well either and with so little being done to police this in the corporate world, don't hold your breath for much improvements in the near future.
At least we can say we are the 8th freest economy in Asia!
Labels: economic freedom, economy, Malaysia
posted by hew @ 12:51 pm
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