Myanmar to learn from Malaysia on ease of doing business
In order to raise its rank on the World Bank’s ease of doing business index, a Myanmar delegation recently visited Malaysia, which is much higher on the index, to study the situation there. Their findings will be reported to the ministries and Vice President, said U Aung Soe, director of the Myanmar Trade Promotion Team.
On the ease of doing business rankings 2017, which tabulates 190 nations, Malaysia is ranked 23 and Myanmar 170, which is the lowest among the ASEAN nations.
Myanmar will try to its rank on the index to 100 from 170 within next 3 years, Vice President U Myint Swe said.
The Myanmar delegation visited Malaysia during the first week of September. The team included representatives from the Myanmar Investment Commission, Trade Promotion Department, Myanmar Federal of Chamber of Commerce and Industries (UMFCCI) and the World Bank.
They studied the Malaysia Productivity Corporation (MPC), Company Incorporation Office, Trade Promotion Department, Malaysia Agricultural Corporation and several anti-corruption centres in Malaysia.
It was found that joint supervision committees and working committees are formed by the government and the private sector and those committees are led by managing directors, he said.
There are ten indicators on which the World Bank’s ranking system is based on including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Myanmar’s ranks across the ten indicators range from 66 to 188, while Malaysia ranks between 8 and 112.
“It is easier to do business in Malaysia than Myanmar. Things are still difficult here We need to make some appropriate reforms to reach a higher rank. We have to amend laws. We must be committed to cooperating with governmental departments to reform. The representatives from those departments are also required to cooperate. Then, our rank will get higher,” U Aung Soe said.
After observing the real situations, reforms must be made continuously and persistently to improve and government leaders are required to encourage those reforms, he pointed out.
What they studied in Malaysia will be reported in writing to the ministries and Private Sector Development Committee led by Vice President U Myint Swe, U Aung Soe said.