Before good news, let’s also look at bad news too. Else later people say kopiandproperty.com only published good news but never bad news. 🙂
Someone posted this recently; Malaysia’s ranked 51st out of 53 countries for Covid-19. Nearly last. This was for Covid-19 Resilience. Means we are not good lah. Anyway, within the same article, Bloomberg said this: “Bloomberg noted that some parts of the developed world have stockpiled their vaccines, supplies are tight and in some cases non-existent in swathes of Latin America, Africa and Southeast Asia.” It also said, “Despite Malaysia’s poor showing, it has the second highest vaccination rate in the region at 10.8%, behind Singapore (44.1%) but ahead of other nations such as Thailand (6.4%), Vietnam (1.6%), Indonesia (7.4%) and the Philippines (3.2%).” Read here for the full article about this bad news. Article in therakyatpost.com
Now, for a much more important news because if we are behind in this competitiveness ranking, then we are really going to take like forever to recover economically. Globally, Malaysia is ranked 25th. In a separate note too, World Bank’s Ease of Doing Business, Malaysia held 2nd ranking among 190 economies! Yes…2nd. As for the rest based on IMD’s Competitive Landscape, the numbers do look positive too. Take a look yeah since no other media has published this and I have no idea why. Source of all charts in this article: IMD.org
Best 2 and Worst 2?
Our best is Prices under Economic Performance. I am very sure this means the cost of doing business is on the lower side which is good. Our second best is Tax Policy under Government Efficiency. I wonder if we could score higher if we have GST instead of SST. Of course scoring so high for this also meant that we have a structured tax system lah.
We are worst in these two; Business Legislation and Societal Framework. Both of these are related to government efficiency. So… ahem… government, if you want this to improve, all of it depends on you yeah. We cannot do much to improve on these two. As for the rest, we are generally in 20s to 30s. Not that bad but can be better lah.
Key Attractiveness Indicators
Would you do business in Malaysia if you are a foreign company?
I think it’s a definite Yes lah. The ranking should also take into account the fact that most Malaysians could converse in multiple languages too yeah. Malaysia provides you access to a 660 million market; ASEAN. It’s easy to set up the business and access to good talents too. Yes, I consider myself as part of the good talent pool here and many of my friends too. Malaysia is also the only country where a government of nearly 60 years could be changed without much fanfare and I could still do my shopping the very next day without any worry of unrest. This is my Malaysia okay.
Oh yeah, if you are a foreign company and you like to know more about Malaysia, feel free to send in your questions too. I will do best to answer them for you.
Next suggested article: Malaysia has worst economic decline since 1998