BACHOK: The World Bank Report 2013 Edition, which reckoned Malaysia as the 12th most competitive nation for business, will help boost the economy amid the uncertain global economic crisis.
Deputy Finance Minister Datuk Dr Awang Adek Hussin said with that recognition, the Finance Ministry was confident that Malaysia’s economy would perform better, posting a growth rate of between 4.5 per cent and 5.5 per cent next year.“This projection is in tandem with the World Bank Report,” he said when asked to comment on the report which propped up Malaysia six notches in business competitiveness than last year.
Based on the World Bank’s rating, Malaysia was above Sweden (13th), Taiwan (16th), Germany (20th), Japan (24th) and Switzerland (28th).
Awang Adek said the World Bank’s ranking would help attract more foreign investments to Malaysia, hence aiding to further stimulate the economy.
He said investors, both domestic and foreign, preferred to invest or do business with countries that have trade and investment-friendly policies like Malaysia particularly easy procedures for title ownership transfers that could be done in 24 hours.
Potential investors could also obtain bank loans easily and were adequately protected by Malaysian laws to safeguard their business interests, he said.
“The World Bank’s tacit recognition will also silence opposition parties’ claims that Malaysia faces the risk of going bankrupt going by the 2013 Budget proposals,” he added.
Earlier, Awang Adek, who is also Bachok Umno division chief, met senior citizens in Perupuk.
Taken from:
0 comments:
Post a Comment