Saturday May 17, 2008
Malaysia improves on competitiveness ranking
PETALING JAYA: Malaysia has improved on its world competitiveness ranking in the International Institute for Management Development's (IMD) World Competitiveness Yearbook 2008 (WCY08).
In a report issued by the IMD on Thursday, Malaysia moved up four spots to 19th place with a score of 73.2 points out of 100.
Last year, Malaysia was ranked 23rd with 74.1 points. The United States maintained its first placing, while Singapore and Hong Kong maintained theirs at second and third respectively.
RAM Holdings Bhd chief economist Dr Yeah Kim Leng said the ranking was a “timely boost” for the economy.
He said the rise was mainly due to significant improvement in the delivery system and other measures taken by the Government to improve efficiency and competition.
Kenanga Investment Bank Bhd economist Wan Suhaimi Saidi said that while the measures taken did have an impact, the ranking only gave a “first impression” to investors.
He said the country still faced a host of challenges despite moving up the rankings.
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