KUALA LUMPUR, June 12 – The ‘Business Ready’ (B-Ready) indicator by the World Bank is an assessment that the country should prioritise by introducing several new approaches and methods, says Prime Minister Datuk Seri Anwar Ibrahim.
He said this included closer synergy between industry and Technical and Vocational Education and Training (TVET) programmes.
Anwar emphasised that trust should be given to industry players to determine the types of training needed, as they had a better understanding of the requirements compared to conventional education systems.
“This is among the efforts we are trying to highlight to expedite approvals and processes, while also committing to make necessary adjustments where needed.
“The country will not progress if it remains in a comfort zone and is easily satisfied with every success,” he said in his keynote address at the 2024 Industry Excellence Awards (AKI) here, Tuesday night.
B-Ready is the World Bank’s new flagship report benchmarking the business environment and investment climate in most economies worldwide.
The report assesses the regulatory framework and public services directed at firms, and the efficiency with which regulatory framework and public services are combined in practice.
Meanwhile, Anwar noted that TVET today was no longer as formal as it used to be, and industries were welcome to take over one or two TVET programmes if they wished to.
“Petronas and Proton-Geely are examples. This makes the synergy between industry and TVET programmes even closer,” he said.
