Citing the index that is based on both historical conditions and future expectations, Mida chief executive officer Azman Mahmud said: “The Index sends a clear message that Malaysia provides a friendly business environment that makes it an attractive place to invest.”
“This endorsement dissolves lingering misperceptions and attests the country’s improving economic fundamentals and the government’s prudent, proactive, and pragmatic policies to restructure and diversify the economy,” he said.
Among Asean countries, only Malaysia and Singapore made it to the top 10, ahead of countries like Indonesia which ranked 12th, Vietnam (23rd), Philippines (30th), and Thailand which came in at the 38th position.
The BPI, a ranking of destinations of attractiveness for foreign investor published by the Foreign Policy Magazine, was first introduced by Daniel Altman, an adjunct professor of New York University’s Stern School of Business in 2013.
The index evaluates 110 countries across six continents, based on eight factors comprising economic growth, financial stability, physical security, corruption, expropriation by government, exploitation by local partners, capital controls, and exchange rates.
According to Azman, Malaysia has consistently registered a double-digit growth of gross fixed capital formation (GFCF) since 2010, and has exceeded the average annual investment target of RM148 billion set forth in the 10th Malaysia Plan with a growth rate of 12.6% per annum.
“In the first quarter this year (1Q15), the GFCF has also surpassed the 1Q14 figures by 13.6%, from RM45.3 billion to RM51.5 billion in 1Q15.
“As of June 2015, Mida already has several exciting projects in the pipeline with investments worth RM25.8 billion for the manufacturing and services sectors.
“Building on this good track record of investment performance, we will continue to align our investment promotion activities with the 11th Malaysia Plan to ensure a significant leap in investment activities that are crucial towards achieving a high-income economy,” he said.
Source : Kinibiz