Malaysia Nabs More Accolades!
In 2012, Malaysia earned a string of prestigious accolades as a reflection of the country’s accomplishments. Amongst the accolades are 12th most competitive economy in the world for doing business, 3rd in Global Brand List and Kuala Lumpur as the second best shopping city in Asia Pacific and fourth best in the world.
Malaysia has earned the 12th spot as the most competitive economy in the world according to World Bank Report 2013. In particular, the country is first in terms of ease of getting credit. The report by Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises also stated that Malaysia was fourth in the world for protecting investors. Steadily raised from 23rd in 2010 and 18th in 2011, Malaysia is ahead of countries such as Sweden (13th), Taiwan (16th) and Japan (24th). The report covers the timeframe of June 2011- June 2012 and is based on assessing key areas of doing business such as its regulations and tax administrations.
The country also successfully emerged third among the ‘Future 15’ countries. These countries are on course to transform the global landscape politically, economically and culturally in the near future. The global survey by FutureBrand indicated that Malaysia was included due to its strength in governance, human capital, investment, growth, sustainability and influence. As for the South East Asia region, Malaysia was the strongest performer in terms of country brand. This was determined by Malaysia’s level of awareness, familiarity, preference and other factors strongly practiced to established commercial relationships. Malaysia also out performed its South East Asian neighbours in tourism segment and improved its CBI ranking by being top 25 worldwide for environmental friendliness, job opportunities and advanced technology.
As the only South East Asian country to make the list in United Nations World Trade Organisation Tourism Highlights 2012, Malaysia proudly earns the world’s top 10 tourist destination. Malaysia made it to the ninth spot based on international tourist arrival. The number has increased from 23.6 million in year 2010 to 24.7 million in 2011. The country was also ranked 14th in terms of international tourism receipts with RM 56.3 billion, ahead its Asian neighbours such as Singapore, Japan and Korea.
During the year, Malaysia also accumulated other notable accolades which include:
· 10th in Foreign Direct Investment (FDI) Confident Index (AT Kearny FDI)
· 20th in Global Peace Index (Institute for Economics & Peace)
· 14th in Work Competitive Year Book (Institute for Management Development)
· 10th World’s Friendliest Countries 2012 in the World (Forbes)
· 71st in Economic Freedom according to the Economic Freedom of the World 2012’s Annual Report
· 7th Meetings Destination in Asia Pacific (ICCA)
· Kuala Lumpur as the 2nd Best Shopping City in Asia Pacific (Global Shopper Index, 2012)
· Kuala Lumpur as the 4th Best Shopping City in the world (CNN Travel, 2012)
These stellar performances by Malaysia are positive results from initiatives taken by the government under the Economic Transformation Programme (ETP) to further boost Malaysia’s economic status.
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