Malaysia is placed ahead of countries in the Asian region such as China, Japan, Vietnam and India in cost of doing business (CoDB) index. According to a study by KPMG, Malaysia has been placed fourth among 17 economies in an assessment comparing the economy’s competitiveness as a manufacturing hub.
Datuk Johan Idris, Managing Partner, KPMG in Malaysia said, Malaysia continues to be a prime manufacturing hub for investors despite uncertainties in the current landscape.
Datuk Johan added, “An immediate effect out of the COVID-19 pandemic has seen companies around the world relooking at their supply chains. A study by McKinsey estimates that 16 to 26% of global exports, worth USD2.9 to 4.6 trillion, could move to new countries over the next five years if companies reshuffle their supplier networks. KPMG’s study proves that we have the factors in place to aid Malaysia in moving up the production value chain. It is by acting with agility and building on our resilience that we are able to maintain our competitive advantage and remain a preferred destination for high quality investments.”
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