KUALA LUMPUR: The World Bank announced that Malaysia has attained a perfect score on the depth of credit information index of the global development financial institution's Doing Business report.
In its 'Doing Business 2017: Equal opportunity for all', report, the World Bank Group highlighted that reforms, including the strengthening of credit reporting by providing consumer credit scores, enabled Malaysia to attain a perfect score, under the report's chapter on Getting Credit.
The report also highlighted that Malaysia has made it easier to pay taxes by introducing online filing and paying goods and services tax systems.
"Now, it takes a medium-sized company only nine payments to comply with taxes, versus 13 payments in the previous year," World Bank said in a statement today.
"The Malaysian government is steadily working towards improving its business regulatory environment.
"It is encouraging to see the economy continue to implement reforms that ease the process of doing business for entrepreneurs," said World Bank Group's Malaysia country manager Faris H. Hadad-Zervos in the same media statement.
The Doing Business report sheds light on how easy or difficult it is for a local entrepreneur to open and run a small- to medium-size business when complying with relevant regulations.