Economy

Malaysia has been one of the big movers in the latest World Bank survey on the ease of doing business, moving up six rungs on the international ladder to be ranked 12th overall. However, making it easier to obtain construction permits and start a business, two areas signalled out for improvement, will help the country achieve its goal of breaking into the top 10.

Several of Saudi Arabia’s major cities – Jeddah, Riyadh and Mecca – and surrounding areas will benefit from plans to roll out public transport and construction projects over the next five years as part of a government drive to boost growth and address the Kingdom’s social needs.

An independence anniversary address by President Goodluck Jonathan on October 1 highlighted some of the encouraging trends in Nigeria’s recent economic performance, although there are still a number of fiscal and structural issues that will continue to constrain growth in the years to come.

Despite global uncertainty, Malaysia looks set to achieve its GDP growth target this year, thanks to a benign domestic climate, rising investment and fiscal stimulus.

With the latest economic figures showing that 2012 will ultimately end up being part of a longer slowdown than originally thought, officials in the kingdom are now looking at ways to use foreign investment to ensure the country is primed for a rebound and long-term economic growth.

Healthy trade figures and predictions that Mongolia will rank among the world’s top-10 fastest-growing economies in the next 40 years has been the source of confidence in the country’s long-term financial potential. However, concerns over trade, regulatory uncertainty and budget deficits threaten the outlook for the near term.