Malaysia advances 11 spots to 23rd in global competitiveness ranking
The investment, trade and industry ministry said economic performance, and government and business efficiency were the main factors driving Malaysia's progress this year. (AP pic)
PETALING JAYA : Malaysia has advanced 11 spots in the International Institute for Management Development (IMD) World Competitiveness Ranking (WCR) 2025 to 23rd among 69 economies, up from 34th placing last year.
In a statement yesterday, the investment, trade and industry ministry noted that the ranking is the nation's best since 2020.
'This reflects the rising momentum in Malaysia's economic recovery and reform agenda, and reaffirms its trajectory towards becoming one of the world's top 12 most competitive economies by 2033,' the ministry said.
Last year, Malaysia fell seven places to 34th out of 67 countries worldwide, and four places to 10th out of 14 countries in the Asia-Pacific region. The nation experienced a decline in nearly all factors, including economic performance, government efficiency and business efficiency, except infrastructure, in which it retained its position.
The WCR analyses and ranks the capacity of countries to create and maintain an environment that sustains the competitiveness of enterprises.
The ministry said that this year, economic performance, government efficiency and business efficiency were the main factors driving the nation's progress.
'Malaysia ranked fourth globally in economic performance, improving four spots from eighth place last year. Both government efficiency and business efficiency factors improved by eight positions.
'The international trade sub-factor increased 11 places to sixth, supported by strong export growth in goods and services, diversified markets and rising tourism receipts, strengthening Malaysia's trade surplus,' it said.
The ministry quoted its minister, Tengku Zafrul Aziz, as saying Malaysia's move up the rankings reflects how bureaucracy-related reforms are 'closely intertwined with facilitating robust investment and industrial growth'.
'The government's whole-of-government approach under the Madani framework also demonstrates its commitment to holistic structural reforms,' Tengku Zafrul said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
an hour ago
- Free Malaysia Today
Ex-senior executive wins final appeal to be reinstated
The Federal Court ruled that Osram Opto Semiconductors Sdn Bhd should pay all outstanding arrears, including statutory contributions, as a result of the reinstatement. PUTRAJAYA : A former senior employee in a Penang-based multinational semiconductor company has won back her job following a unanimous decision by the Federal Court to allow the 58-year-old woman's appeal to be reinstated. A three-member bench chaired by Justice Zabariah Yusof said they agreed with the submission by Ooi Mei Chien's lawyers that the primary remedy for unlawful dismissal was reinstatement as opposed to monetary compensation. Zabariah said Ooi's reinstatement with Osram Opto Semiconductors Sdn Bhd should be immediate and without loss of seniority, years of service, salary and all other benefits and allowances due to her from Jan 1, 2023. The court also ruled that the company should pay all outstanding arrears, including statutory contributions, as a result of the reinstatement. 'The net compensation of RM804,650, in lieu of reinstatement received by Ooi, is to be refunded to the company,' she said, adding that the court order must be complied with within 30 days. Justices Abu Bakar Jais and Vazeer Alam Mydin Meera also heard the appeal. Ooi's counsel Alex De Silva said his client's outstanding salary and allowances for the last 30 months could be about RM1 million. Last year, the Court of Appeal affirmed the High Court's decision that Ooi's retrenchment was not done in good faith, but reversed the High Court's order for reinstatement and instead ordered the employer to pay RM854,650 in compensation to Ooi. The Court of Appeal found compensation in lieu of reinstatement to be the preferred remedy as sending her back to employment was not in line with maintaining industrial harmony. The company had also paid her 24 months' back wages totalling RM772,464, as ordered by the High Court. The Court of Appeal had also affirmed the High Court order to Osram to pay Ooi RM50,000 in punitive damages. According to the facts of the case, Ooi had served Osram, a premium supplier of LED lighting products, for 24 years as head of its treasury and commercial administration services, drawing a monthly salary of RM32,186. In seeking to justify Ooi's retrenchment, Osram said it had outsourced its accounting and treasury function to a global shared services organisation, rendering her role in the company redundant. However, Ooi contended that only some of her functions had been taken over, and that her services were still needed. The Industrial Court in 2019 disagreed, and found Ooi's termination on Sept 30, 2015 to be fair and her redundancy package reasonable. In 2021, the High Court set aside the award, ordering that Ooi be paid back wages of RM772,464 and reinstated to her position. The Court of Appeal maintained that Ooi's retrenchment was in bad faith and also the order for punitive damages was correctly made. However, the Court of Appeal reversed the order for reinstatement with monetary compensation. Ooi was unhappy with the order for compensation in lieu of reinstatement and obtained leave to appeal on four questions of law. De Silva had argued that given Ooi's seniority in position and age, she was unable to find new employment. The Federal Court agreed with Ooi's counsel's submissions that in situations such as this, the primary remedy of reinstatement was the appropriate remedy. Lawyers De Silva, Louis Ambrose, Zuyin Toon and Jessica Chew appeared for Ooi while Arumugam Ganapathy and Moses Mathew George represented the company.
Borneo Post
6 hours ago
- Borneo Post
New Consul General of China presents letter of appointment to Sabah TYT
Dr Zhu (right) presents his letter of appointment to Tun Musa. – Information Department photo KOTA KINABALU (June 17): The strong relationship between China and Sabah across various economic sectors has solidified China's position as Malaysia's largest partner, particularly for Sabah. The Consul General of the People's Republic of China in Kota Kinabalu, Dr Zhu Xinglong, said Sabah's strategic location and wealth of natural resources have made it a key player in the development of a high-level China-Malaysia strategic partnership. 'In recent years, China and Sabah have achieved remarkable milestones in a wide range of collaborations, including trade, investment and tourism. 'China has remained Sabah's largest trading partner for several consecutive years. In fact, from January to May this year alone, 200,000 tourists from China visited Sabah,' he told reporters after paying a courtesy call on the Head of State, Tun Musa Aman, at Istana Seri Kinabalu on Tuesday. Dr Zhu said the visit was to formally introduce himself as the new Consul General of the People's Republic of China in Kota Kinabalu and to present his letter of appointment issued by the Chinese Minister of Foreign Affairs to Tun Musa. He also expressed hope that bilateral cooperation and China-Malaysia relations, built over more than five decades, would continue to be strengthened in the years to come. Dr Zhu succeeds Dr Huang Shi Fang, who held the post from 30 May 2022 until the end of March this year.
Malay Mail
6 hours ago
- Malay Mail
Malaysia secures RM9 billion Shell investment to create high-skilled jobs, says PM Anwar
KUALA LUMPUR, June 17 — Shell will increase its investment in Malaysia by more than RM9 billion over the next two to three years, which is expected to create high-skilled jobs, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the plan was conveyed by Shell's Global chief executive officer Wael Sawan during a meeting today. 'This investment reflects international investors' confidence in our sound economic policies and clear leadership. Insya-Allah (God willing), Malaysia will continue to chart a prosperous and competitive future,' he said in a post on X today. Anwar added that aside from being a prominent player in the global energy industry, Shell has long been a key investment partner and part of Malaysia's economic journey. 'I took the opportunity to share the MADANI Government's strategic approach in positioning Malaysia as a stable, sustainable, and resilient investment destination – not just for today, but for future generations,' the Prime Minister said, adding that Sawan had also expressed his confidence in the country's direction. Earlier, Sawan was quoted as saying that demand for liquefied natural gas (LNG) in Southeast Asia – particularly in Malaysia, Brunei, the Philippines, and Thailand – is expected to grow steadily from now until 2035. He said the surge in energy demand, driven by the expansion of data centres and artificial intelligence, can be met with LNG as a reliable energy source, especially amid geopolitical uncertainties. — Bernama
