TheHE World Economic Forum (WEF) has ranked Malaysia the 24th most competitive nation among 148 countries in its Global Competitiveness Report 2013-2014 because the country has succeeded in improving and strengthening its performance.
Deputy Minister of International Trade and Industry, Datuk Hamim Samuri, said the WEF also gave the country a favourable ranking of 29th for its business-friendly institutional framework and 33rd in the ethics and corruption component of the index.
Hamim said this in reply to a question by Datuk Ahmad Fauzi Zahari (BN-Setiawangsa) at the Dewan Rakyat here yesterday.
Ahmad Fauzi wanted to know the reasons for the WEF’s ranking of Malaysia as the 24th most competitive among the 148 countries in the report.
The deputy minister said the WEF has also listed factor like the country’s 1.7 per cent inflation rate which has placed it in top position compared to the 43 other economies which recorded a rate of between 0.5 and 2.9 per cent.
He said to be a high-income nation, Malaysia must compete regionally and globally.
“Various measures have been undertaken under the Government Transformation Programme, which details the objectives, outcomes and the initial set of actions,” he said. — Bernama