Bernama – Government taking appropriate steps to boost Malaysia’s competitiveness ranking

KUALA LUMPUR, June 25 (Bernama) — The government is reviewing and taking appropriate measures to improve Malaysia’s ranking in the IMD World Competitiveness Rankings (WCR), where it is currently ranked 34th.

Prime Minister Anwar Ibrahim said this included tightening management of the country’s economy, strengthening the ringgit and implementing targeted subsidies, which is expected to help it move up the rankings.

“Yes, there are weaknesses that need to be addressed. However, I would like to point out that the report generally maintains that our economy is stable. According to the IMD report, Malaysia is ranked eighth in the economic performance sub-factor, so it is not a cause for concern yet.

“I do not deny that we must be concerned about the past performance of the ringgit, the increase in subsidy expenditure and the delay in subsidy rationalisation, but I believe that if we take decisive measures, our ranking will improve,” he said during a ministerial question and answer session in Parliament today.

He was responding to a follow-up question from MP Afnan Hamimi Taib Azamden (PN-Alor Sutar), who wanted to know the government’s strategy in the wake of the country’s falling WCR rankings.

In response to Prime Minister Afnan Hamimi saying the decline was seen as a reflection of the cabinet’s performance, Anwar said the performance was everyone’s shared responsibility.

“If there is criticism that we are being negligent, we will work to improve. This is the responsibility of everyone, not just ministers, secretaries-general, directors-general and government agencies.”

The Prime Minister added, “I believe that I, the Minister and all others should do our utmost to improve business performance, and I will convey this to the Cabinet.”

— Bernama



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