Malaysia jumps 11 spots to 23rd in global competitiveness ranking
Tengku Datuk Seri Zafrul Abdul Aziz
KUCHING (June 17): Malaysia has climbed 11 spots in the World Competitiveness Ranking (WCR) 2025 to 23rd place out of 69 economies, up from 34th last year, said Ministry of Investment, Trade and Industry (MITI).
This marks the country's best performance since 2020 and reflects Malaysia's ongoing economic recovery and reform momentum, said the ministry in a statement yesterday.
It also reaffirms Malaysia's trajectory towards becoming one of the world's top 12 most competitive economies by 2033, a target set under the Madani Economic framework.
MITI Minister Senator Tengku Datuk Seri Utama Zafrul Aziz said the improved rankings showed how bureaucracy-related reforms are driving investment facilitation and industrial growth ― both critical to enhancing Malaysia's attractiveness as a preferred investment destination.
He said the government's whole-of-government approach under the Madani framework demonstrated a strong commitment to structural reforms.
'MITI is confident that with strong governance, continued commitment from the federal and state governments, and close collaboration with the private sector, Malaysia is on the right path to becoming one of the world's top 12 most competitive economies by 2033,' he said.
The WCR is published annually by the Institute for Management Development based in Switzerland and is regarded as a comprehensive report that evaluates countries based on their ability to create and maintain a business-friendly environment that promotes long-term prosperity.
According to MITI, Malaysia's rise in competitiveness was driven by three key pillars: Economic Performance, Government Efficiency, and Business Efficiency.
Malaysia ranked fourth globally in Economic Performance, an improvement of four spots from eighth place last year.
Both Government Efficiency and Business Efficiency indicators also saw improvements of eight positions each.
Meanwhile, the International Trade sub-factor improved by 11 spots to sixth globally, supported by robust export growth in goods and services, market diversification, and rising tourism receipts, and stronger trade surplus.
MITI said the National Competitiveness Committee (JKDSN) – co-chaired with the Minister of Finance II, YB Senator Datuk Seri Amir Hamzah Azizan, is tasked with coordinating strategic direction across ministries to boost competitiveness.
At the operational level, the Special Taskforce on Agency Reform (STAR), led by the Chief Secretary to the Government (KSN), Tan Sri Shamsul Azri Abu Bakar, ensures effective implementation of competitiveness initiatives, including more than 1,000 Reformasi Kerenah Birokrasi (RKB) projects aligned with the Public Service Reform Agenda (ARPA).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
11 minutes ago
- Malay Mail
Malaysia must adapt industrial, digital, and green growth policies to become high-income economy, says Anwar
KUALA LUMPUR, June 17 — Malaysia must be adaptive in its policies, have strong institutions, and maintain a clear vision of its chosen direction to achieve its goal of becoming a high-income economy, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar said the Madani Economic Framework reflects the nation's high-income economy vision and articulates a dual commitment. 'First, industrial policies should be modernised, focusing on sectoral competitiveness, digital transformation, green growth and value chain upgrading. 'Second, the benefits of economic expansion should be broad-based, particularly for the vulnerable and underserved segments of our society,' he said in his keynote address at the Sasana Symposium 2025 here today. He added that the Madani reform agenda adopts a whole-of-nation approach as the country prioritises five critical areas, namely fiscal sustainability and governance, subsidy rationalisation, tax reform, human capital upliftment and institutional integrity. — Bernama
Malaysiakini
26 minutes ago
- Malaysiakini
PM: M'sia must be adaptive in policies to become high-income economy
Prime Minister Anwar Ibrahim said Malaysia must adapt its policies, have strong institutions, and maintain a clear vision of its chosen direction to achieve its goal of becoming a high-income economy. Anwar said the Madani Economic Framework reflects the nation's high-income economy vision and articulates a dual commitment. 'First, industrial policies should be...
Barnama
34 minutes ago
- Barnama
Malaysia Must Be Adaptive In Policies To Become High-income Economy
KUALA LUMPUR, June 17 (Bernama) -- Malaysia must be adaptive in its policies, have strong institutions, and maintain a clear vision of its chosen direction to achieve its goal of becoming a high-income economy, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar said the MADANI Economic Framework reflects the nation's high-income economy vision and articulates a dual commitment. 'First, industrial policies should be modernised, focusing on sectoral competitiveness, digital transformation, green growth and value chain upgrading.
