Country Index: Malaysia

Country Index: Malaysia


A Guide to the United States’ History of Recognition, Diplomatic, and Consular Relations, by Country, since 1776: Malaysia

Relations between the United States and what is now the Federation of Malaya go back to the 19th century, when U.S. merchants traded at several Malaysian ports. However, it was not until the 20th century, particularly after Malaysian independence in 1957, that U.S.-Malaysian relations grew beyond this small-scale commerce.


Overview

Since gaining independence in 1957, Malaysia has successfully diversified its economy from one that was initially agriculture and commodity-based, to one that now plays host to robust manufacturing and service sectors, which have propelled the country to become a leading exporter of electrical appliances, parts, and components.

Malaysia is one of the most open economies in the world with a trade to GDP ratio averaging over 130% since 2010. Openness to trade and investment has been instrumental in employment creation and income growth, with about 40% of jobs in Malaysia linked to export activities. After the Asian financial crisis of 1997-1998, Malaysia’s economy has been on an upward trajectory, averaging growth of 5.4% since 2010, and is expected to achieve its transition from an upper middle-income economy to a high-income economy by 2024.

However, the COVID-19 (coronavirus) pandemic has had a major economic impact on Malaysia, particularly on vulnerable households. Having revised its national poverty line in July 2020, 5.6% of Malaysian households are currently living in absolute poverty. The Government is focused on addressing the well-being of the poorest 40% of the population (“the bottom 40”). This low-income group remains particularly vulnerable to economic shocks as well as increases in the cost of living and mounting financial obligations.

Income inequality in Malaysia remains high relative to other East Asian countries but is gradually declining. While income growth for the bottom 40 has outpaced the top 60 over much of the last decade, the absolute gap across income groups has increased, contributing to widespread perceptions of the poor being left behind. Following the removal of broad-based subsidies, the Government has gradually moved toward more targeted measures to support the poor and vulnerable, mainly in the form of cash transfers to low-income households.

Malaysia’s near-term economic outlook will be more dependent than usual on government measures to sustain private sector activity as the shock of COVID-19 reduces export-led growth, and as a depleted fiscal space limits public investment-led expansion. Over the longer term, as Malaysia converges with high-income economies, incremental growth will depend less on factor accumulation and more on raising productivity to sustain higher potential growth. While significant, Malaysia’s productivity growth over the past 25 years has been below that of several global and regional comparators. Ongoing reform efforts to tackle key structural constraints will be vital to support and sustain Malaysia’s development path.

According to the World Bank’s Human Capital Index, Malaysia ranks 55th out of 157 countries. To fully realize its human potential and fulfil the country’s aspiration of achieving the high-income and developed country status, Malaysia will need to advance further in education, health and nutrition, and social protection outcomes. Key priority areas include enhancing the quality of schooling to improve learning outcomes, rethinking nutritional interventions to reduce childhood stunting, and providing adequate social welfare protection for household investments in human capital formation.

As an upper middle-income country Malaysia is both a contributor to the development of low- and middle-income countries, and a beneficiary of global experience in its own journey towards high-income and developed nation status.

The World Bank Group Inclusive Growth and Sustainable Finance Hub in Malaysia (the Hub) serves as a partner to the country and its people in developing and implementing global development solutions.

The Hub draws on global knowledge to further unlock Malaysia’s potential catalyzes knowledge, research, and application for impact and shares Malaysia’s development experience for the global development agenda.

This work of the Hub under its second phase of operation from 2020-25 focuses on three thematic areas:

  1. Supporting Inclusive Growth – Hub teams will conduct policy and research work in the areas of macroeconomics, inclusion, competitiveness, and human development to promote inclusive growth outcomes in Malaysia and other countries.
  2. Promoting Sustainable Finance and Inclusive Finance – Hub analytical, advisory and research work will aim to boost financial sector development in Malaysia and other countries by promoting sustainable and Islamic finance solutions and by strengthening financial inclusion and resilience outcomes.
  3. Enhancing Good Governance – The Hub’s work program will focus on enhancing governance and public sector management outcomes as Malaysia transitions to high-income and developed nation status and to share impactful development lessons with other countries seeking to make similar development journeys.

In covering these three broad thematic areas, the Hub’s overall work program will consist, in varying degrees, of both knowledge and research-related components, as well as both outbound and inbound activities.

The World Bank Group, through its Inclusive Growth and Sustainable Finance Hub in Malaysia, is committed to supporting the Government of Malaysia and her people, to implement reforms and achieve their aspirations toward an inclusive, developed nation. Key highlights over the past five years include the following areas:

Engaging the government and the private sector in policy reforms that have:

  • Increased competition, reduced prices, and increased speeds for broadband internet via new analysis and research on Malaysia’s digital economy.
  • Established a new asset class for the world with the Green Sukuk, an Islamic green bond, pioneered in Malaysia by Bank Negara Malaysia (BNM) and the Securities Commission with the support of the World Bank Group.
  • Development of ‘A Green Taxonomy for Sustainable Finance’ with Bank Negara Malaysia, which will help the Malaysian financial sector classify economic activities transparently and consistently. From this experience, the World Bank Group published a Global Guidance document to help other countries develop their own green taxonomies.
  • Reduced the costs of doing business in Malaysia, through advisory support and workshops provided to the PEMUDAH special task force to facilitate business.
  • Modernized Malaysia’s indirect tax framework with the extension of the Sales and Services Tax to include digital transitions and helped make the direct tax framework more progressive with the introduction of a new top rate of personal income tax, through advice provided to the Ministry of Finance.
  • Increased investments in childcare by an additional allocation of about US$7 million and increased incentives for employers and employees to encourage female labor force participation, through close engagement with the Government based on the report Breaking Barriers: Toward Better Economic Opportunities for Women in Malaysia.
  • Conducted numerous capacity building sessions, notably Macro-Econometric Modeling workshops for MOF, technical workshops on the Long-Term Growth Model for economists and policy makers in government, and seminars with academia to build a robust community of policymakers.

Helping promote South-South knowledge-sharing activities and build the capacities of governments, public agencies, private sector, and academia:

  • The Malaysia Hub organized and played host to more than 70 knowledge and learning exchanges from over 50 low-income and developing economies from Africa, Asia, Eastern Europe, Latin America and Caribbean. Some examples include:
    • Delegates from the Reserve Bank of Zimbabwe visit to Malaysia’s Credit Guarantee Company to learn how to set up a small and medium enterprise (SME) guarantee scheme. This is part of the implementation of the Zimbabwe Financial Inclusion Strategy 2016-2020.
    • In 2017, the Tanzanian Ministry of Finance and Planning delegation came to understand Malaysia’s SME Masterplan, finance programs and support policy, financial inclusion strategy and implementation, and FinTech regulation.

    Acting as a global and regional convener for Malaysia on economic and development topics:


    Contents

    The report is, above all, a benchmark study of regulation. The survey consists of a questionnaire designed by the Doing Business team with the assistance of academic advisers. The questionnaire centers on a simple business case that ensures comparability across economies and over time. The survey also bases assumptions on the legal form of the business, size, location, and nature of its operations. [4] The ease of doing business index is meant to measure regulations directly affecting businesses and does not directly measure more general conditions such as a nation's proximity to large markets, quality of infrastructure, inflation, or crime.

    The next step of gathering data surveys of over 12,500 expert contributors (lawyers, accountants, etc.) in 190 countries who deal with business regulations in their day-to-day work. These individuals interact with the Doing Business team in conference calls, written correspondence, and visits by the global team. For the 2017 report, team members visited 34 economies to verify data and to recruit respondents. Data from the survey is subjected to several rounds of verification. The surveys are not a statistical sample, and the results are interpreted and cross-checked for consistency before being included in the report. Results are also validated with the relevant government before publication. Respondents fill out written surveys and provide references to the relevant laws, regulations, and fees based on standardized case scenarios with specific assumptions, such as the business being located in the largest business city of the economy. [4]

    A nation's ranking on the index is based on an average of 10 subindices:

    • Starting a business – Procedures, time, cost, and minimum capital to open a new business
    • Dealing with construction permits – Procedures, time, and cost to build a warehouse
    • Getting electricity – procedures, time, and cost required for a business to obtain a permanent electricity connection for a newly constructed warehouse
    • Registering property – Procedures, time, and cost to register commercial real estate
    • Getting credit – Strength of legal rights index, depth of credit information index
    • Protecting investors – Indices on the extent of disclosure, the extent of director liability, and ease of shareholder suits
    • Paying taxes – Number of taxes paid, hours per year spent preparing tax returns, and total tax payable as a share of gross profit
    • Trading across borders – Number of documents, cost, and time necessary to export and import
    • Enforcing contracts – Procedures, time, and cost to enforce a debt contract
    • Resolving insolvency – The time, cost, and recovery rate (%) under a bankruptcy proceeding

    The Doing Business project also offers information on the following datasets:

    • Distance to the frontier – Shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the indicators across all economies included since each indicator was included in Doing Business
    • Good practices – Provide insights into how governments have improved the regulatory environment in the past in the areas measured by Doing Business

    For example, according to the Doing Business (DB) 2013 report, Canada ranked third on the first subindex "Starting a business" behind only New Zealand and Australia. In Canada, there is 1 procedure required to start a business which takes on average 5 days to complete. The official cost is 0.4% of the gross national income per capita. There is no minimum capital requirement. By contrast, in Chad which ranked among the worst (181st out of 185) on this same subindex, there are 9 procedures required to start a business taking 62 days to complete. The official cost is 202% of the gross national income per capita. A minimum capital investment of 289.4% of the gross national income per capita is required.

    While fewer and simpler regulations often imply higher rankings, this is not always the case. Protecting the rights of creditors and investors, as well as establishing or upgrading property and credit registries, may mean that more regulation is needed.

    In most indicators, the case study refers to a small domestically-owned manufacturing company—hence the direct relevance of the indicators to foreign investors and large companies is limited. DB uses a simple averaging approach for weighting sub-indicators and calculating rankings. A detailed explanation of every indicator can be found through the DB website and a .xls archive that simulates reforms.

    Some caveats regarding the rankings and main information presented have to be considered by every user of the report. Mainly:

    • Doing Business does not measure all aspects of the business environment that matter to firms or investors, such as the macroeconomic conditions, or the level of employment, corruption, stability, or poverty, in every country.
    • Doing Business does not consider the strengths and weaknesses of neither the global financial system, nor the financial system of every country. It also doesn't consider the state of the finances of the government of every country.
    • Doing Business does not cover all the regulations or all the regulatory requirements. Other types of regulation such as financial market, environment, or intellectual property regulations that are relevant for the private sector are not considered.

    The Doing Business report is not intended as a complete assessment of competitiveness or the business environment of a country and should rather be considered as a proxy of the regulatory framework faced by the private sector in a country.

    The Doing Business report has its origins in a paper first published in the Quarterly Journal of Economics by Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer called "The Regulation of Entry" in 2002. The paper presented data on the regulation of entry of start-up firms in 85 countries covering the number of procedures, official time, and official cost that a start-up must bear before it could operate legally. The main findings of the paper were that: "Countries with heavier regulation of entry have higher corruption and larger unofficial economies, but no better quality of public or private goods. Countries with more democratic and limited governments have lighter regulation of entry." The paper became widely known because it provided quantitative evidence that entry regulation benefits politicians and bureaucrats without adding value to the private sector or granting any additional protection. [5]

    Several countries have launched reforms to improve their rankings. [6] [7] These efforts are motivated to a great scope by the fact that the World Bank Group publishes the data, and hence coverage by the media and the private sector every year. Also, Doing Business highlights every year the successful reforms carried out by each country. The Regulation of Entry was published, Simeon Djankov and Andrei Shleifer have published nine other academic studies, one for each set of indicators covered by the report.

    Over 18 years, 2003 to 2020, the reports recorded nearly 5,000 regulatory reforms implemented by 190 economies.

      was the global top improver in the past year. It enhanced the ease of doing business through four institutional or regulatory reforms, making it easier to register property, pay taxes, enforce contracts, and resolve insolvency.
  • Worldwide, 108 economies implemented 201 regulatory reforms in 2011/12 making it easier to do business as measured by Doing Business. Reform efforts globally have focused on making it easier to start a new business, increasing the efficiency of tax administration, and facilitating trade across international borders. Of the 201 regulatory reforms recorded in the past year, 44% focused on these 3 policy areas alone.
  • Singapore topped the global ranking on the ease of doing business for the seventh consecutive year, followed by Hong Kong SAR New Zealand the United States and Denmark. Georgia was a new entrant to the top 10.
  • In 2014 Doing Business covered regulations measured from June 2012 through May 2013 in 189 economies.

      is the first economy of the global ranking followed by Hong Kong SAR, New Zealand, the United States, Denmark, Malaysia, South Korea, Georgia, Norway, and the United Kingdom.
    • For the first time data about Libya, Myanmar, San Marino, and South Sudan were collected.
    • 114 economies adopted 238 regulatory reforms in 2012/13 (the reforms increased by 18% compared to the previous year).

    In 2015, Doing Business covered regulations measured from June 2013 through June 2014 in 189 economies. [8] For the first time this year, Doing Business collected data for 2 cities in 11 economies with more than 100 million inhabitants. These economies include Bangladesh, Brazil, China, India, Indonesia, Japan, Mexico, Nigeria, Pakistan, the Russian Federation, and the United States. The added city enables a sub-national comparison and benchmarking against other large cities.

    As stated in the report, "Empirical research is needed to establish the optimal level of business regulation—for example, what the duration of court procedures should be and what the optimal degree of social protection is. The indicators compiled in the Doing Business project allow such research to take place. Since the start of the project in November 2001, more than 3,000 academic papers have used one or more indicators constructed in Doing Business and the related background papers by its authors." [9] An example of such empirical research is a paper on business regulation and poverty, published in Economics Letters.

    More than 3,000 academic papers have used data from the index. [10] The effect of improving regulations on economic growth is claimed to be very strong. Moving from the worst one-fourth of nations to the best one-fourth implies a 2.3 percentage point increase in annual growth. Another 7,000 working papers in economics and social science departments use the data from the Doing Business report. The 2016 Nobel Prize Winner in Economics Oliver Hart is among the authors of such papers.

    The various sub-components of the index in themselves provide concrete suggestions for improvement. Many of them may be relatively easy to implement and uncontroversial (except perhaps among corrupt officials who may gain from onerous regulations requiring bribes to bypass). As such, the index has influenced many nations to improve their regulations. Several have explicitly targeted to reach a minimum position on the index, for example, the top 25 list. To consider the element of corruption and transparency in the economy, the index has also been combined with the Corruption Perceptions Index in the annual Best European Countries for Business publication. [11]

    Somewhat similar annual reports are the Indices of Economic Freedom and the Global Competitiveness Report. They, especially the latter, look at many more factors that affect economic growth, like inflation and infrastructure. These factors may however be more subjective and diffuse since many are measured using surveys and they may be more difficult to change quickly compared to regulations.

    A November 2017 EconTalk podcast explains the lasting influence in academia and policy circles of the Doing Business report.

    The Doing Business Report (DB) is an annually published report which was developed by a team led by Djankov in 2003. It has been elaborated by the World Bank Group since 2003 every year that is aimed to measure the costs to firms of business regulations in 190 countries. The study has become one of the flagship knowledge products of the World Bank Group in the field of private sector development and is claimed to have motivated the design of several regulatory reforms in developing countries. The study presents every year a detailed analysis of costs, requirements, and procedures a specific type of private firm is subject in all countries, and then, creates rankings for every country. The study is also backed up by broad communication efforts, and by creating rankings, the study spotlights countries and leaders that are promoting reforms. [12]

    The DB has been widely known and used by academics, policy-makers, politicians, development experts, journalists, and the business community to highlight red tape and promote reforms. As stated by the IEG study from the World Bank:

    "For country authorities, it sheds a bright, sometimes unflattering, light on regulatory aspects of their business climate. For business interests, it has helped to catalyze debates and dialogue about reform. For the World Bank Group, it demonstrates an ability to provide global knowledge, independent of resource transfer and conditionality. The annual exercise generates information that is relevant and useful".

    According to the DB, the regulation does matter for the development of the private sectors, and several reforms are suggested across the report to promote the development of the private sector and enable the business environment. Some highlighted findings of the DB are:

    • Lower barriers to start-up are associated with a smaller informal sector.
    • Lower costs of entry encourage entrepreneurship, enhance firm productivity, and reduce corruption.
    • Simple start-up translates into greater employment opportunities.

    Contents Edit

    In 2017, the study contains quantitative measures of regulations for starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, taxes, trading across borders, enforcing contracts, getting an electricity connection, and closing a business. As stated in the introduction of the study, "A fundamental premise of DB is that economic activity requires good rules. These include rules that establish and clarify property rights and reduce the costs of resolving disputes, rules that increase the predictability of economic interactions, and rules that provide contractual partners with core protections against abuse."

    Evaluation Edit

    Doing Business is a controversial study, with passionate critics and devoted fans. As recognized by the Independent Evaluation Group of the World Bank, some have questioned the reliability and objectivity of its measurements while others doubt the relevance of the issues it addresses or fears it may unduly dominate countries reform agendas at the expense of more crucial development objectives. Attention given to the indicators may inadvertently signal that the World Bank Group values less burdensome business regulations more highly than its other strategies for poverty reduction and sustainable development.

    Several limitations are present in the DB studies and have to be kept in mind when using the study:

    • The indicators and measures are referred to the costs, requirements, and fees of doing business in the country's largest business city thus conditions elsewhere within the country may differ.
    • To achieve cross-country standardization respondents are asked to give estimates for a limited liability company of a specific size. [vague] Costs for other forms and scales of businesses may differ.
    • Transactions and fees to have cost out are very specifically defined. The costs of other types of transactions may differ.
    • The cost estimates come from individuals identified as expert respondents. Sometimes the estimates given by such individuals may differ with other experts and with public officials. If so, the responses are cross-checked for consistency.
    • The estimates assume that a business knows what is required and does not waste time. Satisfying regulatory requirements will take longer if the business lacks information or is unable to follow up promptly. A related point here is that DB does not allow for "workarounds", "facilitating fees", and "learning time" that speed or delay approvals and causes variation costs.

    Related studies Edit

    Published now for seventeen years, the DB has originated a growing body of research on how performance on DB indicators, and reforms generated by the reports, related to specific development desirable outcomes. As stated by the DB 2010, about "405 articles have been published in peer-reviewed academic journals, and about 1143 working papers are available through Google Scholar".

    DB has been widely used as a study to measure competitiveness. However, regulation rather than competitiveness is the main objective in the DB. Other studies that are also used to measure competitiveness and recognized as business enabling environment ranking systems are the Global Competitiveness Index, the Index of Economic Freedom, and the Global Entrepreneurship Monitor, among others. [13]

    2018 manipulation scandal Edit

    On 12 January 2018, Paul Romer, the World Bank's chief economist, announced that past releases of the index would be corrected and recalculated going back at least four years. Romer apologized to Chile, saying that the former director of the group responsible for the index had repeatedly manipulated its methodology, unfairly penalizing the country's rankings during the administration of left-wing President Michelle Bachelet. In response, Bachelet announced that Chile would formally request a complete investigation by the World Bank. [14] [15]

    2020 data irregularities controversy Edit

    Several major newspapers – including the Financial Times, The Economist, and The Wall Street Journal – report that the data of China, Azerbaijan, United Arab Emirates, and Saudi Arabia among others were suspected to be "inappropriately altered" in the 2020 Doing Business publication. [16] [17] [18] In light of the data irregularities found in both the 2018 and 2020 reports, the World Bank announced on 27 August 2020 that it would pause the Doing Business publication while it conducts a review of data changes for the last five reports and an internal audit of data integrity. [19]

    Following these revelations, some organizations paused the use of Doing Business data, and supplemented these reports with data from alternative indicators measuring the same concepts. [20] On December 16, 2020 the World Bank released 3 reports about the conclusions of the reviews examining the data irregularities: [21]

    • A review of the specific irregularities identified. [21]
    • An independent confirmation of these irregularities. [21]
    • An independent review of Doing Business's processes for data production and management. [22]

    These reviews found that, while the specific issues uncovered in this breach had been addressed, a culture where management pressured experts to manipulate data persisted: "The DB team members reported undue pressure, both directly and indirectly by Bank management to manipulate data in 2017 during the 2018 report production process and in 2019 during the 2020 report production process. The lack of a safe speak-up environment within the DB team led to a fear of retaliation for those who would escalate and report pressures to manipulate data. This contributed to the compromise of data integrity in the DB report." [22] These reports also found that over half of Doing Business staff interviewed admitted to manipulating data. [23]

    The most recent rankings come from the "Doing Business 2020" report. Ranking of economies was introduced in the "Doing Business 2006" report. [24]

    New Zealand has topped the Ease of Doing Business rankings in 2017, 2018, 2019, and 2020.

    Singapore topped the Ease of Doing Business rankings in 2007–2016. [25] Based on Singapore's experience, IDA International is collaborating with public agencies in several countries in the areas such as ICT strategy, national Infocomm planning and solutions implementation that can help increase the ease of doing business. One interesting fact is that although richer countries on average are ranked higher than poor countries, there are some remarkable exceptions, particularly oil-rich countries. For example Kuwait (ranked 83), Qatar (ranked 77), Oman (ranked 68) Saudi Arabia (ranked 62). Compare to lower-income countries: India (ranked 63), Kenya (ranked 56), Colombia (ranked 67), Uzbekistan (ranked 69). Notable exceptions are Norway (ranked 9) and the United Arab Emirates (ranked 16). [26]

    Classification Jurisdiction 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
    Very Easy New Zealand 1 1 1 1 2 2 3 3 3 3 2 2 2 2 1
    Very Easy Singapore 2 2 2 2 1 1 1 1 1 1 1 1 1 1 2
    Very Easy Hong Kong 3 4 5 4 5 3 2 2 2 2 3 4 4 5 7
    Very Easy Denmark 4 3 3 3 3 4 5 5 5 6 6 5 5 7 8
    Very Easy South Korea 5 5 4 5 4 5 7 8 8 16 19 23 30 23 27
    Very Easy United States 6 8 6 8 7 7 4 4 4 5 4 3 3 3 3
    Very Easy Georgia 7 6 9 16 24 15 8 9 16 12 11 15 18 37 100
    Very Easy United Kingdom 8 9 7 7 6 8 10 7 7 4 5 6 6 6 9
    Very Easy Norway 9 7 8 6 9 6 9 6 6 8 10 10 11 9 5
    Very Easy Sweden 10 12 10 9 8 11 14 13 14 14 18 17 14 13 14
    Very Easy Lithuania 11 14 16 21 20 24 17 27 27 23 26 28 26 16 15
    Very Easy Malaysia 12 15 24 23 18 18 6 12 18 21 23 20 24 25 21
    Very Easy Mauritius 13 20 25 49 32 28 20 19 23 20 17 24 27 32 23
    Very Easy Australia 14 18 14 15 13 10 11 10 15 10 9 9 9 8 6
    Very Easy Taiwan 15 13 15 11 11 19 16 16 25 33 46 61 50 47 35
    Very Easy United Arab Emirates 16 11 21 26 31 22 23 26 33 40 33 46 68 77 69
    Very Easy North Macedonia 17 10 11 10 12 30 25 23 22 38 32 71 75 92 81
    Very Easy Estonia 18 16 12 12 16 17 22 21 24 17 24 22 17 17 16
    Very Easy Latvia 19 19 19 14 22 23 24 25 21 24 27 29 22 24 26
    Very Easy Finland 20 17 13 13 10 9 12 11 11 13 16 14 13 14 13
    Very Easy Thailand 21 27 26 46 49 26 18 18 17 19 12 13 15 18 20
    Very Easy Germany 22 24 20 17 15 14 21 20 19 22 25 25 20 21 19
    Very Easy Canada 23 22 18 22 14 16 19 17 13 7 8 8 7 4 4
    Very Easy Ireland 24 23 17 18 17 13 15 15 10 9 7 7 8 10 11
    Very Easy Kazakhstan 25 28 36 35 41 77 50 49 47 59 63 70 71 63 86
    Very Easy Iceland 26 21 23 20 19 12 13 14 9 15 14 11 10 12 12
    Very Easy Austria 27 26 22 19 21 21 30 29 32 32 28 27 25 30 32
    Very Easy Russia 28 31 35 40 51 62 92 112 120 123 120 120 106 96 79
    Very Easy Japan 29 39 34 34 34 29 27 24 20 18 15 12 12 11 10
    Very Easy Spain 30 30 28 32 33 33 52 44 44 49 62 49 38 39 30
    Very Easy China 31 46 78 78 84 * 90 96 91 91 79 89 83 83 93 91
    Very Easy France 32 32 31 29 27 31 38 34 29 26 31 31 31 35 44
    Very Easy Turkey 33 43 60 69 55 55 69 71 71 65 73 59 57 91 93
    Very Easy Azerbaijan 34 25 57 65 63 80 70 67 66 54 38 33 96 99 98
    Very Easy Israel 35 49 54 52 53 40 35 38 34 29 29 30 29 26 29
    Very Easy Switzerland 36 38 33 31 26 20 29 28 26 27 21 21 16 15 17
    Very Easy Slovenia 37 40 37 30 29 * 51 33 35 37 42 53 54 55 61 63
    Very Easy Rwanda 38 29 41 56 62 46 32 52 45 58 67 139 150 158 139
    Very Easy Portugal 39 34 29 25 23 25 31 30 30 31 48 48 37 40 42
    Very Easy Poland 40 33 27 24 25 32 45 55 62 70 72 76 74 75 54
    Very Easy Czech Republic 41 35 30 27 36 44 75 65 64 63 74 75 56 52 41
    Very Easy Netherlands 42 36 32 28 28 27 28 31 31 30 30 26 21 22 24
    Very Easy Bahrain 43 62 66 63 65 53 46 42 38 28 20 18 N/A N/A N/A
    Very Easy Serbia 44 48 43 48 59 91 93 86 92 89 88 94 86 68 92 **
    Very Easy Slovakia 45 42 39 33 29 * 37 49 46 48 41 42 36 32 36 37
    Very Easy Belgium 46 45 52 42 43 42 36 33 28 25 22 19 19 20 18
    Very Easy Armenia 47 41 47 38 35 45 37 32 55 48 43 44 39 34 46
    Very Easy Moldova 48 47 44 44 52 63 78 83 81 90 94 103 92 103 83
    Very Easy Belarus 49 37 38 37 44 57 63 58 69 68 58 85 110 129 106
    Very Easy Montenegro 50 50 42 51 46 36 44 51 56 66 71 90 81 70 92 **
    Very Easy Croatia 51 58 51 43 40 65 89 84 80 84 103 106 97 124 118
    Very Easy Hungary 52 53 48 41 42 54 54 54 51 46 47 41 45 66 52
    Very Easy Morocco 53 60 69 68 75 71 87 97 94 114 128 128 129 115 102
    Easy Cyprus 54 57 53 45 47 64 39 36 40 37 40 N/A N/A N/A N/A
    Easy Romania 55 52 45 36 37 48 73 72 72 56 55 47 48 49 78
    Easy Kenya 56 61 80 92 108 136 129 121 109 98 95 82 72 83 68
    Easy Kosovo 57 44 40 60 66 75 86 98 117 119 113 N/A N/A N/A N/A
    Easy Italy 58 51 46 50 45 56 65 73 87 80 78 65 53 82 70
    Easy Chile 59 56 55 57 48 41 34 37 39 43 49 40 33 28 25
    Easy Mexico 60 54 49 47 38 * 39 53 48 53 35 51 56 44 43 73
    Easy Bulgaria 61 59 50 39 38 * 38 58 66 59 51 44 45 46 54 62
    Easy Saudi Arabia 62 92 92 94 82 49 26 22 12 11 13 16 23 38 38
    Easy India 63 77 100 130 130 142 134 132 132 134 133 122 120 134 116
    Easy Ukraine 64 71 76 80 83 96 112 137 152 145 142 145 139 128 124
    Easy Puerto Rico 65 64 64 55 57 47 40 41 43 47 35 35 28 19 22
    Easy Brunei 66 55 56 72 84 * 101 59 79 83 112 96 88 78 N/A N/A
    Easy Colombia 67 65 59 53 54 34 43 45 42 39 37 53 66 79 66
    Easy Oman 68 78 71 66 70 66 47 47 49 57 65 57 49 55 51
    Easy Uzbekistan 69 76 74 87 87 141 146 154 166 150 150 138 138 147 138
    Easy Vietnam 70 69 68 82 90 78 99 99 98 78 93 92 91 104 99
    Easy Jamaica 71 75 70 67 64 58 94 90 88 81 75 63 63 50 43
    Easy Luxembourg 72 66 63 59 61 59 60 56 50 45 64 50 42 N/A N/A
    Easy Indonesia 73 73 72 91 109 114 120 128 129 121 122 129 123 135 115
    Easy Costa Rica 74 67 61 62 58 83 102 110 121 125 121 117 115 105 89
    Easy Jordan 75 104 103 118 113 117 119 106 96 111 100 101 80 78 74
    Easy Peru 76 68 58 54 50 35 42 43 41 36 56 62 58 65 71
    Easy Qatar 77 83 83 83 68 50 48 40 36 50 39 37 N/A N/A N/A
    Easy Tunisia 78 80 88 77 74 60 51 50 46 55 69 73 88 80 58
    Easy Greece 79 72 67 61 60 61 72 78 100 109 109 96 100 109 80
    Easy Kyrgyzstan 80 70 77 75 67 102 68 70 70 44 41 68 94 90 84
    Easy Mongolia 81 74 62 64 56 72 76 76 86 73 60 58 52 45 61
    Easy Albania 82 63 65 58 97 * 68 90 85 82 82 82 86 136 120 117
    Easy Kuwait 83 97 96 102 101 * 86 104 82 67 74 61 52 40 46 47
    Easy South Africa 84 82 82 74 73 43 41 39 35 34 34 32 35 29 28
    Easy Zambia 85 87 85 98 97 * 111 83 94 84 76 90 100 116 102 67
    Easy Panama 86 79 79 70 69 52 55 61 61 72 77 81 65 81 57
    Easy Botswana 87 86 81 71 72 74 56 59 54 52 45 38 51 48 40
    Easy Malta 88 84 84 76 80 94 103 102 N/A N/A N/A N/A N/A N/A N/A
    Easy Bhutan 89 81 75 73 71 125 141 148 142 142 126 124 119 138 104
    Easy Bosnia and Herzegovina 90 89 86 81 79 107 131 126 125 110 116 119 105 95 87
    Easy El Salvador 91 85 73 95 86 109 118 113 112 86 84 72 69 71 76
    Easy San Marino 92 88 93 79 76 93 81 N/A N/A N/A N/A N/A N/A N/A N/A
    Easy Saint Lucia 93 93 91 86 77 100 64 53 52 53 36 34 34 27 N/A
    Easy Nepal 94 110 105 107 99 108 105 108 107 116 123 121 111 100 55
    Easy Philippines 95 124 113 99 103 95 108 138 136 148 144 140 133 126 113
    Easy Guatemala 96 98 97 88 81 73 79 93 97 101 110 112 114 118 109
    Easy Togo 97 137 156 154 150 149 157 156 162 160 165 163 156 151 149
    Medium Samoa 98 90 87 89 96 67 61 57 60 61 57 64 61 41 39
    Medium Sri Lanka 99 100 111 110 107 99 85 81 89 102 105 102 101 89 75
    Medium Seychelles 100 96 95 93 95 85 80 74 103 95 111 104 90 84 N/A
    Medium Uruguay 101 95 94 90 92 82 88 89 90 124 114 109 98 64 85
    Medium Fiji 102 101 101 97 88 * 81 62 60 77 62 54 39 36 31 34
    Medium Tonga 103 91 89 85 78 69 57 62 58 71 52 43 47 51 36
    Medium Namibia 104 107 106 109 101 * 88 98 87 78 69 66 51 43 42 33
    Medium Trinidad and Tobago 105 105 102 96 88 * 79 66 69 68 97 81 80 67 59 N/A
    Medium Tajikistan 106 126 123 128 132 166 143 141 147 139 152 159 153 133 N/A
    Medium Vanuatu 107 94 90 84 94 76 74 80 76 60 59 60 62 58 49
    Medium Pakistan 108 136 147 144 138 128 * 110 107 105 83 85 77 76 74 60
    Medium Malawi 109 111 110 133 141 164 171 157 145 133 132 134 127 110 96
    Medium Côte d'Ivoire 110 122 139 142 142 147 167 177 167 169 168 161 155 141 145
    Medium Dominica 111 103 98 101 91 97 * 77 68 65 88 83 74 77 72 N/A
    Medium Djibouti 112 99 154 171 171 155 160 171 170 158 163 153 146 161 N/A
    Medium Antigua and Barbuda 113 112 107 113 104 89 71 63 57 64 50 42 41 33 N/A
    Medium Egypt 114 120 128 122 131 112 128 109 110 94 106 114 126 165 141
    Medium Dominican Republic 115 102 99 103 93 84 117 116 108 91 86 97 99 117 103
    Medium Uganda 116 127 122 115 122 150 132 120 123 122 112 111 118 107 72
    Medium Palestine 117 116 114 140 129 143 138 135 131 135 139 131 117 127 125
    Medium Ghana 118 114 120 108 114 * 70 67 64 63 67 92 87 87 94 82
    Medium Bahamas 119 118 119 121 106 97 * 84 77 85 77 68 55 N/A N/A N/A
    Medium Papua New Guinea 120 108 109 119 145 133 113 104 101 103 102 95 84 57 64
    Medium Eswatini 121 117 112 111 105 110 123 123 124 118 115 108 95 76 N/A
    Medium Lesotho 122 106 104 100 114 * 128 * 136 136 143 138 130 123 124 114 97
    Medium Senegal 123 141 140 147 153 161 178 166 154 152 157 149 162 146 132
    Medium Brazil 124 109 125 123 116 120 116 130 126 127 129 125 122 121 119
    Medium Paraguay 125 113 108 106 100 92 109 103 102 106 124 115 103 112 88
    Medium Argentina 126 119 117 116 121 124 126 124 113 115 118 113 109 101 77
    Medium Iran 127 128 124 120 118 130 152 145 144 129 137 142 135 119 108
    Medium Barbados 128 129 132 117 119 106 91 88 N/A N/A N/A N/A N/A N/A N/A
    Medium Ecuador 129 123 118 114 117 115 135 139 130 130 138 136 128 123 107
    Medium Saint Vincent and the Grenadines 130 130 129 125 111 103 82 75 75 75 70 66 54 85 N/A
    Medium Nigeria 131 146 145 169 169 170 147 131 133 137 125 118 108 108 94
    Medium Niger 132 143 144 150 160 168 176 176 173 173 174 172 169 160 150
    Medium Honduras 133 121 115 105 110 104 * 127 125 128 131 141 133 121 111 112
    Medium Guyana 134 134 126 124 137 123 115 114 114 100 101 105 104 136 105
    Medium Belize 135 125 121 112 120 118 106 105 93 99 80 78 59 56 N/A
    Medium Solomon Islands 136 115 116 104 112 87 97 92 74 96 104 89 79 69 53
    Medium Cape Verde 137 131 127 129 126 122 121 122 119 132 146 143 132 125 N/A
    Medium Mozambique 138 135 138 137 133 127 139 146 139 126 135 141 134 140 110
    Medium Saint Kitts and Nevis 139 140 134 134 124 121 101 96 95 87 76 67 64 44 N/A
    Medium Zimbabwe 140 155 159 161 155 171 170 173 171 157 159 158 152 153 126
    Medium Tanzania 141 144 137 132 139 131 145 134 127 128 131 127 130 142 140
    Medium Nicaragua 142 132 131 127 125 119 124 119 118 117 117 107 93 67 59
    Medium Lebanon 143 142 133 126 123 104 * 111 115 104 113 108 99 85 86 95
    Medium Cambodia 144 138 135 131 127 135 137 133 138 147 145 135 145 143 133
    Medium Palau 145 133 130 136 136 113 100 111 116 120 97 91 82 62 N/A
    Medium Grenada 146 147 142 138 135 126 107 100 73 92 91 84 70 73 N/A
    Medium Maldives 147 139 136 135 128 116 95 95 79 85 87 69 60 53 31
    Below Average Mali 148 145 143 141 143 * 146 155 151 146 153 156 166 158 155 146
    Below Average Benin 149 153 151 155 158 151 174 175 175 170 172 169 151 137 129
    Below Average Bolivia 150 156 152 149 157 157 162 155 153 149 161 150 140 131 111
    Below Average Burkina Faso 151 151 148 146 143 * 167 154 153 150 151 147 148 161 163 154
    Below Average Mauritania 152 148 150 160 168 176 173 167 159 165 166 160 157 148 127
    Below Average Marshall Islands 153 150 149 143 140 139 114 101 106 108 98 93 89 87 48
    Below Average Laos 154 154 141 139 134 148 159 163 165 171 167 165 164 159 147
    Below Average Gambia 155 149 146 145 151 138 150 147 149 146 140 130 131 113 N/A
    Below Average Guinea 156 152 153 163 165 169 175 178 179 179 173 171 166 157 144
    Below Average Algeria 157 157 166 156 163 154 153 152 148 136 136 132 125 116 128
    Below Average Micronesia 158 160 155 151 148 145 156 150 140 141 127 126 112 106 56
    Below Average Ethiopia 159 159 161 159 146 132 125 127 111 104 107 116 102 97 101
    Below Average Comoros 160 164 158 153 154 159 158 158 157 159 162 155 146 144 N/A
    Below Average Madagascar 161 161 162 167 164 163 148 142 137 140 134 144 149 149 131
    Below Average Suriname 162 165 165 158 156 162 161 164 158 161 155 146 142 122 N/A
    Below Average Sierra Leone 163 163 160 148 147 140 142 140 141 143 148 156 160 168 136
    Below Average Kiribati 164 158 157 152 149 134 122 117 115 93 79 79 73 60 45
    Below Average Myanmar 165 172 171 170 167 177 182 N/A N/A N/A N/A N/A N/A N/A N/A
    Below Average Burundi 166 168 164 157 152 152 140 159 169 181 176 177 174 166 143
    Below Average Cameroon 167 166 163 166 172 158 168 161 161 168 171 164 154 152 130
    Below Average Bangladesh 168 176 177 176 174 173 130 129 122 107 119 110 107 88 65
    Below Average Gabon 169 169 167 164 162 144 163 170 156 156 158 151 144 132 N/A
    Below Average São Tomé and Príncipe 170 170 169 162 166 153 169 160 163 178 180 176 163 169 123
    Below Average Sudan 171 162 170 168 159 160 149 143 135 154 154 147 143 154 151
    Below Average Iraq 172 171 168 165 161 156 151 165 164 166 153 152 141 145 114
    Below Average Afghanistan 173 167 183 183 177 183 164 168 160 167 160 162 159 162 122
    Below Average Guinea-Bissau 174 175 176 172 178 179 180 179 176 176 181 179 176 173 N/A
    Below Average Liberia 175 174 172 174 179 174 144 149 151 155 149 157 170 N/A N/A
    Below Average Syria 176 179 174 173 175 175 165 144 134 144 143 137 137 130 121
    Below Average Angola 177 173 175 182 181 181 179 172 172 163 169 168 167 156 135
    Below Average Equatorial Guinea 178 177 173 178 180 165 166 162 155 164 170 165 165 150 N/A
    Below Average Haiti 179 182 181 181 182 180 177 174 174 162 151 154 148 139 134
    Below Average Congo 180 180 179 177 176 178 185 183 181 177 179 178 175 171 148
    Below Average Timor Leste 181 178 178 175 173 172 172 169 168 174 164 170 168 174 142
    Below Average Chad 182 181 180 180 183 185 189 184 183 183 178 175 173 172 152
    Below Average Democratic Republic of Congo 183 184 182 184 184 184 183 181 178 175 182 181 178 175 155
    Below Average Central African Republic 184 183 184 185 185 187 188 185 182 182 183 180 177 167 153
    Below Average South Sudan 185 185 187 186 187 186 186 N/A N/A N/A N/A N/A N/A N/A N/A
    Below Average Libya 186 186 185 188 188 188 187 N/A N/A N/A N/A N/A N/A N/A N/A
    Below Average Yemen 187 187 186 179 170 137 133 118 99 105 99 98 113 98 90
    Below Average Venezuela 188 188 188 187 186 182 181 180 177 172 177 174 172 164 120
    Below Average Eritrea 189 189 189 189 189 189 184 182 180 180 175 173 171 170 137
    Below Average Somalia 190 190 190 190 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

    * – same rank is for multiple jurisdictions
    ** – the State Union of Serbia and Montenegro

    Note: Rankings at the time of annual report publication. Rankings are subject to revision.

    The Doing Business methodology regarding labor regulations was criticized by the International Trade Union Confederation because it favored flexible employment regulations. [27] In early reports, the easier it was to dismiss a worker for economic reasons in a country, the more its rankings improved. The Employing Workers index was revised in Doing Business 2008 to be in full compliance with the 188 International Labour Organization conventions. It has subsequently been removed from the rankings. The ITUC debuted the Global Rights Index in 2014 as a response to the Doing Business report. [28]

    In 2008 the World Bank Group's Independent Evaluation Group, a semi-independent watchdog within the World Bank Group, published an evaluation of the Doing Business index. [29] The report, Doing Business: An Independent Evaluation, contained both praise and criticism of Doing Business. The report recommended that the index be clearer about what is and is not measured, disclose changes to published data, recruit more informants, and simplify the Paying Taxes indicator.

    In April 2009 the World Bank issued a note with revisions to the Employing Workers index. [30] The note explained that scoring for the "Employing Workers" indicator would be updated in Doing Business 2010 to give favorable scores for complying with relevant ILO conventions. The Employing Workers indicator was also removed as a guidepost for Country Policy and Institutional Assessments, which help determine resources provided to IDA countries.

    A study commissioned by the Norwegian government alleges methodological weaknesses, an uncertainty in the ability of the indicators to capture the underlying business climate, and a general worry that many countries may find it easier to change their ranking in Doing Business than to change the underlying business environment. [31]

    In 2013, an independent panel appointed by the President of the World Bank and headed by Trevor Manuel of South Africa issued a review expressing concern about the potential for the report and index to be misinterpreted, and the narrowness of the indicators and information base. It recommended that the report be retained, but that the aggregate rankings be removed and that a peer-review process is implemented (among other things). Regarding the topics of Paying Taxes and Employing Workers, it noted that "The latter has already been excluded from the report's rankings. While there is a persuasive case for paying attention to these aspects of doing business, the Bank will need to carefully consider the correct way to assess the regulation and legal environment of these areas if these indicators are to be retained." [32]

    In 2018, another independent evaluation was commissioned by the World Bank Group. The evaluation praised the Doing Business report for its objectivity and focus on regulatory reform. It suggested adding peer-reviewed research papers behind every set of indicators. Subsequently the World Bank has added one such research article, underlying the indicator on property registration


    Malaysia Inflation Rate 1960-2021

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    Malaysia Foreign Direct Investment 1970-2021

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    2. Sports In Malaysia

    People participating in Tug Of War game during National Sports Day in Tuaran Public Field. Image credit: Lano Lan/Shutterstock.com

    A number of sports are played in Malaysia with the most popular ones being bowling, football, badminton, squash, field hockey, etc. Wau is a traditional Malaysian sport that involves kite flying. The kites used in this game can fly as high as 500 meters with the help of bamboo attachments. Sepak takraw or kick volleyball, dragon dancing, and dragon boat racing are some other traditional sports. With long coastlines and many islands, many aquatic sports and activities like sailing, swimming, scuba diving, snorkeling, etc., are enjoyed by Malaysians.


    Malaysian Property Price Change

    Malaysia

    Regional Statistics

    Financial Overview: Property in Malaysia

    Where to Buy

    Key Contacts

    Sri Lanka 20.36%
    Pakistan 16.06%
    South Korea 12.05%
    Taiwan 10.81%
    China 9.83%
    Japan 9.20%
    Singapore 6.64%
    Mongolia 2.83%
    Hong Kong 2.62%
    Thailand 2.08%
    Indonesia 1.43%
    India 1.11%
    Macau 0.41%
    Malaysia -0.91%
    Vietnam -14.33%
    Philippines -20.16%

    Malaysia: Price changes, 1 year (%)

    The annual (year-on-year) percentage change in house prices (or the house price index) using the latest data available, not adjusted for inflation.

    • House price data sources: see the Data FAQ | House Price Time Series.
    • House price graphs: see House Price Graphs
    • Date of latest house prices: mouse over country names above.

    Malaysia releases annual and quarterly house price index. Annual data are available from the Bank Negara Malaysia (BNM) and quarterly data are available from the Valuation and Property Services Department. BNM has useful monetary, financial and economics data.

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    States and Federal Territories Map of Malaysia

    Malaysia is divided into 13 states (Negeri) and 3 federal territories (Wilayah Persekutuan). Out of these – 11 states and 2 federal territories are situated in West Malaysia 2 states and 1 federal territory in Borneo Island (East Malaysia). In alphabetical order, the 13 states are: Johor, Kedah, Kelantan, Malacca, Negeri Sembilan, Pahang, Penang, Perak, Perlis, Sabah, Sarawak, Selangor and Terengganu. Kuala Lumpur, Labuan and Putrajaya are the federal territories in Malaysia. The states are further subdivided into districts and smaller subdivisions.

    Located in the Klang Valley, Kuala Lumpur is the capital and the biggest city in Malaysia. Besides being, the cultural and economic center of Malaysia, Kuala Lumpur is also one of the top tourist destinations in the world.


    Freedom in the World — Malaysia Country Report

    Malaysia is rated Partly Free in Freedom in the World , Freedom House's annual study of political rights and civil liberties worldwide.