Malaysia leaps 11 spots to 23rd in global competitiveness – best position in five years
The WCR, released each year by the Institute for Management Development in Switzerland, evaluates countries based on their ability to foster a supportive business environment and drive sustainable economic growth.
Malaysia's advancement from 34th place last year highlights the country's robust economic recovery and ongoing reform initiatives, as noted by the Ministry of Investment, Trade and Industry (Miti).
This progress supports Malaysia's goal of joining the world's top 12 most competitive economies by 2033, as set out in the Madani Economic Framework.
'This achievement is a clear indication that the Madani government's reform efforts are bearing fruit,' Prime Minister Datuk Seri Anwar Ibrahim said in response to the WCR report.
According to the WCR, Malaysia's enhanced global competitiveness is driven by strong economic performance, improved government efficiency, and more effective business operations.
The country now ranks fourth globally in economic performance – up four spots from last year – while government and business efficiency factors each improved by eight positions.
International trade has also seen significant progress, climbing 11 places to rank sixth, thanks to robust export growth, diversified markets and increased tourism receipts, which together have strengthened Malaysia's trade surplus.
At the strategic level, the National Competitiveness Committee, co-chaired by finance minister II, coordinates efforts across ministries to boost competitiveness.
At the same time, the Special Taskforce on Agency Reform, led by the chief secretary to the government, ensures the effective implementation of over 1,000 projects under the Public Service Reform Agenda.
Further, Miti emphasises that these bureaucracy-related reforms are closely linked to facilitating strong investment and industrial growth, both of which are essential for making Malaysia a more attractive investment destination.
The whole-of-government approach under the Madani Framework demonstrates its commitment to comprehensive structural reforms.
With an ongoing commitment from federal and state governments and close collaboration with the private sector, Malaysia is well-positioned to achieve its goal of becoming one of the world's 12 most competitive economies by 2033, Miti said.
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