06 Oct High on ease of doing business
According to the World Bank’s Doing Business 2020 rankings (January 2020), Malaysia has seen steady improvement in its business climate for domestic small and medium-sized enterprises, moving up three places to a global rank of 12th out of 190 economies in the latest rankings. Consistent efforts to make regulations more efficient, accessible and simple facilitate a conducive business environment for Malaysia’s local and international entrepreneurs. These demonstrate the government’s commitment to the expansion of business opportunities, innovation and job creation; and reassurance to aspiring entrepreneurs and others in the global private sector. MTEP is a Malaysian government initiative with Malaysia Digital Economy Corporation (MDEC). The main purpose of this initiative is to attract tech talent and techno-entrepreneurs from all over the world to establish start-up companies and expand their businesses to the ASEAN region
The corporate world still relies a lot on “Guan Xi” (literally meaning relationship). Whether you win the contract / project, largely depends on who you know. For locals to open a cafe or small shop isn’t a problem; but foreigners and MNCs can struggle with the simplest hurdles. These can include a lot of paperwork, creating the risk of ‘under-the-table’ requests which must be resisted.