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Malaysia leaps 5 rungs in World Bank rankings Posted: 19 Oct 2011 06:28 PM PDT 2011/10/20 KUALA LUMPUR: Malaysia moved up five notches in the annual global ranking to become one of the top five economies in Asia on the ease of doing business, in a latest report issued by the World Bank. At the 18th position, it is now ahead of Germany (19th), Japan (20th), Taiwan (25th), Switzerland (26th) and France (29th), said the World Bank Doing Business Report for 2012. Chief Secretary to the Government Tan Sri Mohd Sidek Hassan, who is also co-chair of a high-powered taskforce to address bureaucracy issues, Pemudah, said the improvement showed that the reform measures implemented were beginning to show results.
Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said the report followed closely that of the World Economic Forum Global Competitiveness Index 2011-2012 where Malaysia also leapt to 21st position from 26th. "It seems to me that from the feedback of stakeholders, including the private sector, that the measures which have been taken to improve competitiveness and ease of doing business have shown apparent results," he said, when contacted in Jakarta.
Also, Malaysia now ranked higher in terms of merging company, tax, social security and employment fund registrations at a one-stop centre for business start-ups. The World Bank also commended Malaysia as one of the 24 in the world to have regulatory reform committees reporting to the country head -- the prime minister.
"Much as we are happy that our measures are showing results with rankings higher than that of Germany, Japan, Taiwan or France, we still need to continue with our reform initiatives," Mukhriz said, adding that the challenge would be to sustain the ranking. "It is good to spar against the best. We must learn from their best practices, we have to be cognisant of the fact that we have to adapt from others to our situation." The report ranked Malaysia as fifth in Asia after Singapore (1st), Hong Kong (2nd), Korea (8th) and Thailand (17th). The World Bank based its ranking in 10 areas of business activity, ranging from starting a business to registering property, getting credit, import and export regulations and procedures, protecting investors, enforcing contracts and resolving insolvency. It noted that while Malaysia improved in six categories, there was a marginal deterioration in two areas that dealt with construction permits and paying taxes. On the construction permits, Mukhriz felt that the dip might be due to the many permits needed for projects to commence in Malaysia but it would be a matter of streamlining these permits through a one-stop centre. Chartered Taxation Institute Malaysia president S.M. Thaneermalai was surprised at the drop in rankings in taxes, saying that the world body could be referring to some broader sense of taxation. "With e-filing and being electronically connected to banks, tax collection has actually improved compared with three years ago," he said. Thaneermalai said red tape could be further cut with increased transparency in government agencies, especially on the rules for filling licences or tax deductions. Incentives to attract investors should also be expedited, especially those that provided more jobs for Malaysians. Sidek said the private sector needed to simplify procedures and reduce unnecessary bureaucracy to improve business efficiency as only then could the government fully realise the delivery system. Business associations and the legal profession also need to look at their work systems and procedures and identify the clogs in productivity. Full content generated by Get Full RSS. |
Driver’s licence renewal based on birthday starts next month Posted: 19 Oct 2011 06:22 PM PDT Driver's licence renewal based on birthday starts next month2011/10/20 KUALA LUMPUR: The new driver's licence renewal date, which is based on one's date of birth, will take effect in mid-November, said Transport Minister Datuk Kong Cho Ha. The Road Transport Department, National Registration Department, Pos Malaysia and eKhidmat services are streamlining the mechanism ahead of its implementation. First mooted in July this year, the move is, in part, intended to help motorists better remember when their licences expire — forgetfulness often an excuse given whenever they are found with expired licences.
In the initial stages, the government will bear the cost of extending the expiry date of the licence to align it with the driver's birthday. For example, if a person's licence expires on Dec 30 and his birthday is on Feb 12, the government will pay for the extension of the licence until the latter date.
"If it is more than six months, the driver will pay half the normal annual licence fee," Kong said. Air your comment on this issue: Full content generated by Get Full RSS.Driver's licence renewal based on birthday starts next monthLog in with your Facebook account or use the form below to comment. New Straits Times reserves the right not to publish offensive or abusive comments and those of hate speech, harassment, commercial promos and invasion of privacy. Your IP will be logged and may be used to prevent further submission.The views expressed here are that of the members of the public and unless specifically stated are not those of NST. |
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