(File pix) Malaysia is ranked 18 among 189 economies in the 2016 World Bank's ease of doing business ranking. Reuters photo

KUALA LUMPUR: Malaysia is ranked 18 among 189 economies in the 2016 World Bank's ease of doing business ranking.

Malaysia will have the opportunity to improve its consistently strong business environment further by reducing the procedures for construction permits and time taken to pay taxes.

“Malaysia’s improvements in the ease of doing business, such as, by reforming business registration requirements, have benefited local entrepreneurs, who now have fewer hurdles to comply with and more resources to focus on their business,” said Faris Hadad Zervos, World Bank Country Manager for Malaysia.

“Malaysia’s dynamic approach toward assisting business development is recognised globally with its ranking as one of the 20 best economies in the world in which to do business.”

Malaysia ranked 14 for starting a business, dealing with construction permits (15), getting electricity (13) and registering property (38).

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