Have you ever felt like you are in a race and each time you pass another competitor, more keep showing up ahead on the race track in an endless marathon? Well, countries striving to be competitive face a similar predicament. No matter how hard they try to improve their competitiveness, cut the red tape and reduce burdensome regulations, other countries are doing the same, but even quicker.
Malaysia is already a very competitive country. Today it ranks 18 out of 189 economies
in the World Bank Group’s Doing Business Index
. Yet, its ambition is to become more competitive. And it wants to overtake some countries on the way up. Malaysia has long recognized that a concerted cross-ministerial and public-private collaboration is needed to do just that.
Malaysia’s Special Task Force to Facilitate Business (PEMUDAH)
, was established in 2007 to improve the ease of doing business in Malaysia. Testament to its success was Malaysia’s surge to 6th
position in the 2014 Doing Business, up from 12th
place in 2013 and 18th
in 2012, placing it in the same league as Singapore, Hong Kong, and the United States. But since then, Malaysia has been challenged to keep up with the rapid pace of business reforms across the globe.