Malaysia improved its standing in 2014-2015’s Global Competitiveness Report, placing 20th out of 144 nations, ahead of more developed economies such as Australia, Austria, France and South Korea.
This was a better showing for Malaysia, which last year was ranked 24th.
Director-general of Malaysia Productivity Corp (MPC) Datuk Mohd Razali Hussain told The Rakyat Post that despite this being Malaysia’s best performance on the report so far, the Federal Government would continue to intensify its efforts to improve its standing in the fields of macroeconomics environment, labour market efficiency, and technological readiness.
“Macroeconomic environment recorded a drop of six places to 44th position from 38th last year. Our area of concern is the government budget balance and general government debt.
“On technological readiness, Malaysia declined nine places to 60th position from 51st previously,” he said at a press conference unveiling the erport yesterday.
Mohd Razali said the MPC plans to propose the establishment of a task force to improve Malaysia’s technological readiness.
The proposed improvements include increased mobile broadband subscriptions per 100 population, international Internet bandwidth and fixed broadband Internet subscriptions per 100 population.
Mohd Razali also said the government would continue to encourage women to participate in the workforce to improve the country’s labour market efficiency.
The Global Competitiveness Report, based on the Global Competitiveness Index, was introduced by the World Economic Forum in 2004.
Reuters reported that the EU is becoming more competitive but Switzerland, Singapore and the US are the three economies to beat, an annual survey by the World Economic Forum said today.
Recently, a study jointly conducted by Singapore’s Civil Service College and California-based Chapman University found that Kuala Lumpur was unlikely to emerge as a globally-influential city in the foreseeable future, as it holds little sway over international trade.
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