TOP 10 RANKING GOOD FOR BUSINESS, SERVICES, SAYS MIA

By Tengku Noor Shamsiah Tengku Abdullah

KUALA LUMPUR, May 21 (Bernama) -- The surge in Malaysia's competitiveness
ranking into the top 10 in the world is good for business and services, said
Malaysian Investors Association (MIA).

Its president, Dr P.H.S Lim, said this showed that the country was
efficient and comparable to developed nations in terms what it could offer to
local and foreign investors interested to set up business in Malaysia.

Malaysia entered the list of 10 most competitive countries in the world For
the first time, according to the 2010 World Competitive Yearbook, published by
the Swiss-based Institute for Management Development (IMD) on May 19.

Malaysia has steadily improved its rating since it was first included in
IMD's yearbook in 1999.

The country has achieved impressive gains in its ranking this year, moving
up eight positions to break into the top ten.

Lim said the result was clearly rooted in the innovative and bold
initiatives the government has undertaken so far, especially under Prime
Minister Najib Razak, to drive development and economic growth.

"The move has also created a resilient private sector despite the
recent global economic meltdown. We have one of the best infrastructures,
including communications network, coupled with workforce and blessed resources,
we have performed well," he told Bernama here Friday.

Lim said the Government Transformation Programme (GTP) has somewhat pushed
Malaysia's ranking.

The TGP, launched last year, focused on government's efforts in key areas,
such as enhancing the business climate, fighting corruption, improving the
infrastructure, streamlining government procedures and strengthening its
education system.

He said while the government implemented the right policies to improve
competitiveness, Malaysian business community has a played a vital role to
create change and drive growth.

With an index score of 87,228, Malaysia has joined the ranks of the most
competitive countries in the world, sharing the top 10 ranking with Singapore,
Hong Kong, the United States, Switzerland, Australia, Sweden, Canada, Taiwan and
Norway.

In terms of government and business efficiency ratings, Lim said, Malaysia's
performance was now ahead of developed countries such as Luxembourg,
Switzerland, Canada, Denmark and Sweden.

Lim said with more liberalisation, the country should continue to be
progressive as Malaysia has good entrepreneurship and great business spirit,"
Lim added.
-- BERNAMA


Attachments:
untitled-[2] 6 k [ text/html ] Download | View
Delete & Prev | Delete & Next