“Economy needs more progress and changes up to increase the standing in the Ease of Doing Business ranking of the World Bank 2020″ said Myanmar Investment Committee Secretary, Aung Naing Oo. Myanmar rank remained unchanged at 171 out of the 190 countries in the Ease of Doing Business ranking according to the World Bank report 2019 but Myanmar latest score improved to 44.72 points from 44.21 in the 2018 index. Changes in the Companies Law and online companies registering law system as the biggest change in Myanmar economy on August 1 was not reflected in the survey of World Bank, Myanmar Investment Committee Secretary Aung Naing Oo said. The government has tried to promote the standing to under 100 ranking and made a great effort to progress starting from the 2017.
If we have the progress in the ease of doing business ranking, we can attract more local/international investors and the country can develop rapidly with the growing and active economy” said General Secretary of Myanmar Agriculture Association.
The Ease of Doing Business ranking is the indicator of the economic change with four sections and the two countries Myanmar and Singapore as the member of ASEAN countries have no changes in ranking. In World Bank’s Doing Business rank 2019, Malaysia and Brunei achieved higher ranking but the rest of six countries including Thailand have lower ranking among the ASEAN countries. To compare the conditions with Myanmar’s neighbor countries, Laos ranked 154th, Philippines 124th, Cambodia 138th, Indonesia 27th and Malaysia 15th.