Miti sec-gen: IMD report won’t affect investor sentiment

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KUALA LUMPUR: The latest World Competitiveness Yearbook (WYC) 2015 by the Swiss-based Institute for Management Development (IMD) will not affect investors’ sentiment on Malaysia, said International Trade and Industry Ministry Secretary-General Datuk Dr Rebecca Fatima Sta Maria.

In the WYC 2015, which tracked both qualitative and quantitative data obtained through executive opinion surveys, Malaysia was ranked 14th out of 61 countries compared to 12th out of 60 countries last year.

Despite a decline in position, she said the report shows positive indications that the country has been doing very well in macroeconomic terms.

“By looking at what we have been doing and what we are doing going forward, I think it will just be a blip. You will see improvements next year, provided we are not so distracted again going forward,” she told a media briefing on the report on Wednesday.

She said respondents’ perception in the first quarter, when the survey was carried out, had been coloured by several challenges and concerns during the time, including over the Goods and Services Tax.

“The IMD surveys were done when the country had a lot of concerns. There were extraneous factors that could be controlled, while some others couldn’t. In this case, we couldn’t. You have to know what people think of you, and this kind of report is a reality check for us.

Whether you like it or not, this is the perception out there, so we must address those concerns,” she explained. Besides the WYC, the government is also closely monitoring the World Bank’s Ease of Doing Businesses Report and the Global Competitiveness Report by the World Economic Forum.

But regardless of the results, MITI would continue to make improvements to the country’s regulatory framework and closely work with all related parties to foster a more business-friendly environment, she added. — Bernama