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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