World Bank's Doing Business Report 2018: Malaysia best Singapore, UK in electricity reliability
NST 10 April 2018
NST, April 10 2018
KUALA LUMPUR: Malaysia has made it into the top 10 of the World Bank’s Doing Business Report 2018, under the topic, Getting Electricity.
According to Energy, Green Technology and Water Minister, Datuk Seri Dr Maximus Ongkili, the nation is ranked eighth out of 190 countries, besting even Singapore, Japan and the United Kingdom, demonstrating the reliability of the country’s electrical supply.
The United Arab Emirates sits on top of the list, followed by South Korea, Taiwan, Hong Kong and Germany.
Also in the top 10 are Sweden, Switzerland, United Kingdom and Russia.
Singapore, Thailand and Japan made it into the top 20, while countries at the bottom of the list included Cambodia (137), Maldives (143), and Yemen (187).
According to the report, the world ranking is based on benchmarks including reliability of supply, transparency of tariff, and affordable cost to obtain electricity connection.
It was reported that it takes 31 days to get connected to the electrical grid in Malaysia, compared to 78 days across high-income economies.
The ranking, Ongkili said was achievable through the close cooperation between the nation’s largest electricity utility supplier, Tenaga Nasional Bhd (TNB) and the Energy Commission.
“The initiatives are in line with the government’s policy to provide affordable, accessible and sustainable electricity for the public,” he said.
The report stated that unreliable electricity supply and high tariffs can be hurdles to the entrepreneurial activity.