- Malaysia is second best in ASEAN for growing businesses
Dato’ N.K. Jasani said, “Malaysia is ranked 13 globally by the GDI – a major improvement of 11 places from the year before.”
Kuala Lumpur, 16 September 2013- The Grant Thornton Global Dynamism Index (GDI) 2013 has ranked Malaysia as ASEAN’s second most dynamic country after Singapore.
Now in its second year, the GDI ranks 60 of the largest economies in the world on their dynamism, drawing on both economic and business survey data. It scores each economy across five key areas of dynamism producing an overall score.
Singapore has scored 61.9, the highest in ASEAN, followed by Malaysia, 59.5 and Thailand, 56.4.
Malaysia scored1 second best in key areas such as business operating environment (74) and financing environment (60) in ASEAN for growing businesses.
“Our country also provides good financing environment as we scored the highest in ASEAN for access to medium term capital (85),” he continued.
Malaysia’s Global position
Dato’ N.K. Jasani said, “Malaysia is ranked 13 globally by the GDI – a major improvement of 11 places from the year before.”
In comparison with other countries globally, Malaysia is performing strongly in key areas such as economics and growth, rank 8 (73), labour and human capital, rank 11 (62) and financing environment, rank 16 (60).
“We have climbed to rank 8 on economics and growth boosted by higher GDP and consumption growth. Our real GDP growth is ranked 9th in the world (84).” he said.
“Our position in labour and human capital has gained 13 places and rank 11 globally (62). Besides that, we have raised seven places up the financing environment rankings to 16, thanks to improvements in the corporate tax burden (75) and access of firms to medium-term capital (85),” he continued.
Modelling the indicators and categories results in scores of 0-100 for each country, where 100 represents the most dynamic environment and 0 the least.
“The labour productivity growth in Malaysia has risen 6 places to rank 12 in the world,” he said.
Table 1. Ranking and scores for Malaysia
Table 2. Comparison of key indicators
"Dynamism" is defined as a combination of factors that highlight countries' growth potential. It refers to the changes in an economy over the past 12 months which are likely to lead to a fast rate of future growth. The index ranks economies by how much their business growth environments improved in 2012. The 2013 Index evaluates where countries stand in relation to one another with regards to their dynamism level.
The GDI provides an overall dynamism ranking and also scores economies and regions in five separate categories of dynamism: business operating environment, economics & growth, science & technology, labour & human capital and financing environment. index gives a much truer reflection of how suitable an environment it offers for dynamic businesses.
By analysing those changes to each economy which have enabled recovery from the 2008-09 economic recession and are likely to lead to a fast rate of future growth, the index uncovers the best environments for dynamic businesses to grow.
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