ID :
141499
Fri, 09/10/2010 - 00:30
Auther :
Shortlink :
https://oananews.org//node/141499
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MALAYSIA SLIPS TO 26TH POSITION IN GLOBAL COMPETITIVENESS REPORT
KUALA LUMPUR, Sept 9 (Bernama) -- Malaysia slipped two notches to 26th from
24th ranking previously in the World Economic Forum's Global Competitiveness
Report 2010-2011 released today, with higher education, institutions and labour
market efficiency among the concerns.
The country's rank has been on a declining trend for three consecutive years
from 21st position in 2008/09, said the report, citing training and
technological readiness among the other pillars to be improved.
In the overall competitiveness index, however, the country stood almost flat
at 4.88 out of seven compared with in 2009 when it scored 4.87.
"Among Asia-Pacific countries, Malaysia ranked 8th, ahead of China,
Thailand, India, Indonesia and the Phillipines," said a statement from Ministry
of International Trade and Industry here Thursday.
Malaysia scored highest in the legal rights index, together with Hong Kong
and Singapore.
The country also scored high on the strength of investor protection, ranking
4th after New Zealand, Singapore and Hong Kong.
The top 10 countries in the report are Switzerland, Sweden, Singapore, US,
Germany, Japan, Finland, Netherlands, Denmark and Canada.
Saudi Arabia and Israel, ranked 21st and 24th respectively, had overtook
Malaysia.
The report covered 139 countries, of which six, namely Angola, Cape Verde,
Rwanda, Swaziland, Iran and Lebanon are new.
Minister of International Trade and Industry, Mustapa Mohamed,
said while the ministry acknowledged there were a number of areas for
improvement, it was happy to see the report highlighted a number of positive
elements about the Malaysian economy.
Mustapa said Malaysia was also assessed to have a well-developed financial
market development with ease of financing through local equity, ranked 11th from
15th previously, and ease of access to loans position at 10th.
"Venture capital availability, soundness of banks, transparent regulations
of security exchanges have also contributed to financial market development in
Malaysia," he said.
He said Malaysia also did relatively well in more complex categories, which
mattered the most for advanced economies, namely business sophistication (25th)
and innovation (24th).
On concerns raised by the report, he said, the government has already
launched nationwide initiatives to tackle them.
"Among the proactive measures to enhance Malaysia's competitiveness are the
New Economic Model, which emphasises achieving high income, the Government
Transformation Programme to enhance government efficiency, and the
implementation of initiatives under the 10th Malaysia Plan.
"As these initiatives begin to take effect, we can expect to see
improvements in Malaysia's overall competitiveness soon," he said.
-- BERNAMA
24th ranking previously in the World Economic Forum's Global Competitiveness
Report 2010-2011 released today, with higher education, institutions and labour
market efficiency among the concerns.
The country's rank has been on a declining trend for three consecutive years
from 21st position in 2008/09, said the report, citing training and
technological readiness among the other pillars to be improved.
In the overall competitiveness index, however, the country stood almost flat
at 4.88 out of seven compared with in 2009 when it scored 4.87.
"Among Asia-Pacific countries, Malaysia ranked 8th, ahead of China,
Thailand, India, Indonesia and the Phillipines," said a statement from Ministry
of International Trade and Industry here Thursday.
Malaysia scored highest in the legal rights index, together with Hong Kong
and Singapore.
The country also scored high on the strength of investor protection, ranking
4th after New Zealand, Singapore and Hong Kong.
The top 10 countries in the report are Switzerland, Sweden, Singapore, US,
Germany, Japan, Finland, Netherlands, Denmark and Canada.
Saudi Arabia and Israel, ranked 21st and 24th respectively, had overtook
Malaysia.
The report covered 139 countries, of which six, namely Angola, Cape Verde,
Rwanda, Swaziland, Iran and Lebanon are new.
Minister of International Trade and Industry, Mustapa Mohamed,
said while the ministry acknowledged there were a number of areas for
improvement, it was happy to see the report highlighted a number of positive
elements about the Malaysian economy.
Mustapa said Malaysia was also assessed to have a well-developed financial
market development with ease of financing through local equity, ranked 11th from
15th previously, and ease of access to loans position at 10th.
"Venture capital availability, soundness of banks, transparent regulations
of security exchanges have also contributed to financial market development in
Malaysia," he said.
He said Malaysia also did relatively well in more complex categories, which
mattered the most for advanced economies, namely business sophistication (25th)
and innovation (24th).
On concerns raised by the report, he said, the government has already
launched nationwide initiatives to tackle them.
"Among the proactive measures to enhance Malaysia's competitiveness are the
New Economic Model, which emphasises achieving high income, the Government
Transformation Programme to enhance government efficiency, and the
implementation of initiatives under the 10th Malaysia Plan.
"As these initiatives begin to take effect, we can expect to see
improvements in Malaysia's overall competitiveness soon," he said.
-- BERNAMA
