The government should continue to strengthen labor and infrastructure quality to further enhance the country’s competitiveness and move up the production value chain.
“Aside from the government, organizations also need to provide the people with the right tools and skillsets. Companies need to invest in their people and anticipate where they are heading in the next five to 10 years, ” KPMG Malaysia managing partner Datuk Johan Idris told reporters at a virtual press conference with InvestKL yesterday.
According to a finding by KPMG cost of doing business (CoDB) index among 17 countries, Malaysia is ranked at the top along with China, Mexico and Vietnam for primary expenses including hourly compensation costs, real estate costs and corporate tax rates.
The study evaluated a total of 23 cost factors that impact the cost of doing business.
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