ID :
183251
Fri, 05/20/2011 - 05:55
Auther :
Shortlink :
https://oananews.org//node/183251
The shortlink copeid
MALAYSIA'S ECONOMIC PERFORMANCE ACKNOWLEDGED IN COMPETITIVENESS REPORT
KUALA LUMPUR, May 20 (Bernama) -- Malaysia's economic performance was acknowledged in the World Competitiveness Yearbook 2011 Report (WCY2011) released by the Switzerland-based Institute for Management Development (IMD)Wednesday, where Malaysia's Economic Performance ranking improved to seventh place out of 59 economies this year.
In the ranking for Economic Performance, which gives a macro economic evaluation of the domestic economy and which is based on real/hard data, Malaysia was ahead of Taiwan, Sweden, Canada, Australia, UK and Switzerland.
Malaysia has come a long way since 2007 where it was ranked 12th position in Economic Performance, said International Trade and Industry Minister, Mustapa Mohamed, in a statement.
Mustapa also welcomed the fact that the IMD survey continued to rank Malaysia as among the top five most competitive nations in the Asia Pacific region for the second year running, taking sixth position in the 20 million population category and second position after Taiwan in the Gross Domestic Product per capita less than US$20,000 category.
Malaysia was ranked 16th overall in terms of competitiveness among 59 economies, compared with 10th place last year.
Mustapa stressed that enhancing national competitiveness remained a top priority for Malaysia.
The government recognises that more engagement and communication at the local and international levels will need to be undertaken, he said.
The Malaysian success story will be continuously communicated to the public and various stakeholders, he added.
Moving forward, the Government is committed to successfully seeing through the realisation of the New Economic Model (NEM), the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP), he said.
The NEM, GTP and ETP have demonstrated positive results, he said.
This is shown by the different indices where the total investment commitment so far stands at RM95 billion, which will create almost 225,000 jobs over the next ten years, he said. (US$1=RM3.00)
The ETP has identified a total of 131 Entry Point Projects (EPP) with a total investment value of RM794.5 billion as part of a major initiative to boost the country’s Gross National Income to RM1.1 trillion and generate 3.3 million jobs, Mustapa said.
He said to date, a total of 72 projects have been launched and 41.2 per cent of them are at various stages of implementation, reflecting private sector confidence in the government.
He said the setting up of the Special Taskforce to Facilitate Business (PEMUDAH), Performance Management & Delivery Unit (PEMANDU), Talent Corporation, the coming into force of the Competition Law, corporatisation of Malaysian Investment Development Authority and Malaysia Productivity Corporation (MPC)'s new role to review regulatory reforms, will enhance public sector delivery and create a climate that is conducive to doing business.
The Competition Law to govern all firms, including government-linked companies, against anti-competitive practices which will be fully implemented on January 1, 2012 should further enhance Malaysia’s competitiveness, he said.
The MPC’s role to undertake a comprehensive review of business regulations to reduce the cost of doing business and increase efficiency should usher a new perspective to transparency and competitiveness to the nation, he said.
In the ranking for Economic Performance, which gives a macro economic evaluation of the domestic economy and which is based on real/hard data, Malaysia was ahead of Taiwan, Sweden, Canada, Australia, UK and Switzerland.
Malaysia has come a long way since 2007 where it was ranked 12th position in Economic Performance, said International Trade and Industry Minister, Mustapa Mohamed, in a statement.
Mustapa also welcomed the fact that the IMD survey continued to rank Malaysia as among the top five most competitive nations in the Asia Pacific region for the second year running, taking sixth position in the 20 million population category and second position after Taiwan in the Gross Domestic Product per capita less than US$20,000 category.
Malaysia was ranked 16th overall in terms of competitiveness among 59 economies, compared with 10th place last year.
Mustapa stressed that enhancing national competitiveness remained a top priority for Malaysia.
The government recognises that more engagement and communication at the local and international levels will need to be undertaken, he said.
The Malaysian success story will be continuously communicated to the public and various stakeholders, he added.
Moving forward, the Government is committed to successfully seeing through the realisation of the New Economic Model (NEM), the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP), he said.
The NEM, GTP and ETP have demonstrated positive results, he said.
This is shown by the different indices where the total investment commitment so far stands at RM95 billion, which will create almost 225,000 jobs over the next ten years, he said. (US$1=RM3.00)
The ETP has identified a total of 131 Entry Point Projects (EPP) with a total investment value of RM794.5 billion as part of a major initiative to boost the country’s Gross National Income to RM1.1 trillion and generate 3.3 million jobs, Mustapa said.
He said to date, a total of 72 projects have been launched and 41.2 per cent of them are at various stages of implementation, reflecting private sector confidence in the government.
He said the setting up of the Special Taskforce to Facilitate Business (PEMUDAH), Performance Management & Delivery Unit (PEMANDU), Talent Corporation, the coming into force of the Competition Law, corporatisation of Malaysian Investment Development Authority and Malaysia Productivity Corporation (MPC)'s new role to review regulatory reforms, will enhance public sector delivery and create a climate that is conducive to doing business.
The Competition Law to govern all firms, including government-linked companies, against anti-competitive practices which will be fully implemented on January 1, 2012 should further enhance Malaysia’s competitiveness, he said.
The MPC’s role to undertake a comprehensive review of business regulations to reduce the cost of doing business and increase efficiency should usher a new perspective to transparency and competitiveness to the nation, he said.
