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Thursday, 28 September 2017

Malaysia was ranked in the World Economic Forum’s index. #financial-market #health #primary-education #telekom #infrastructure #government-agencies

Malaysia: Malaysia can regain its position as one of the top 20 most competitive countries in the World Economic Forum's index if it continues to roll out initiatives and pursue public-private collaboration.
Malaysia Productivity Corp director general Datuk Mohd Razali Hussain said consistency, at least for the next five years, is key towards achieving the targeted ranking in the Global Competitiveness Report.
This year, Malaysia was ranked 23 out of 138 economies with a score of 5.16.
The faster broadband access through Telekom Malaysia's recent unifi's "i-foundit" for instance, stands to improve Malaysia's scores in terms of technological readiness while the roll-out of major projects like the Mass Rapid Transit (MRT) or the Pan Borneo highway, boosts the scores on the infrastructure pillar.
The Global Competitiveness Index combines 114 indicators and groups them into 12 pillars relevant to growth and development.
Malaysia ranked among the top 50 in each of the pillars despite the decline in six of them.
"For the pillars on technological readiness and infrastructure we were 51 and 29 respectively in 2012. We have improved over the last five year and have the potential or momentum to push the competitiveness needle next three years," Razali told the New Straits Times yesterday.
Malaysia performed most strongly in financial market development (16th) and made the most improvement in health and primary education pillar by moving up 14 positions to 30.
Razali also highlighted the productivity Nexus initiative to promote more collaboration between government agencies and industry players across various sectors.
So far three have been established, with three more this month and another three in December.
The methodology used in the index is statistical data (30 per cent) and the rest based on the results of the executive opinion survey.
According to the survey this year, access to financing topped the list of most problematic factors for doing business.
This was despite an improvement in the ease of access to loans.
Economist Julia Goh of UOB Bank remarked the improved rankings further supports Malaysia's positive macro picture which make it more conducive for foreign investments.

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