KUALA LUMPUR: Following report that Malaysia was ranked number 12 in the World Bank’s Ease of Doing Business 2020, Malaysia Minister of Finance Lim Guan Eng said the ranking from 15th to 12th this year is a testimony to the Pakatan Harapan (PH) government’s success in reforming the country’s institutions, Malay Mail reported.
“The Government remains committed to implementing its institutional reforms while supporting economic growth in line with the overall Shared Prosperity Vision 2030,” he said in a statement.
Earlier this month, Malaysia was also ranked among the best-improved economies in the World Bank’s 2018 Worldwide Governance Indicators (WGI), for its accountability, political stability, government effectiveness, regulatory quality, rule of law and corruption.
“Indeed, credit rating agencies use both the Ease of Doing Business and the WGI in ascertaining a country’s institutional quality and therefore credit ratings.
“Malaysia’s reaffirmation of its sovereign credit ratings is the best answer to critics that the present government does not know how to manage the economy or has increased government debts excessively,” he said.
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