Latest news with #IMDWorldCompetitivenessRanking2025
New Straits Times
an hour ago
- Business
- New Straits Times
Samenta: Malaysia's rise in global competitiveness reflects reform progress
KUALA LUMPUR: Malaysia's climb to 23rd place in the IMD World Competitiveness Ranking 2025 affirms the government's economic reforms and policy enhancements, said the Small and Medium Enterprises Association of Malaysia (Samenta). Samenta president Datuk William Ng said the 11-spot jump, the highest among all participating economies, reflects notable progress in key competitiveness indicators. He added that government and business efficiency both advanced by eight ranks. Ng said Malaysia has improved significantly in eradicating bribery and corruption, boosting private investment in research and development, reducing bureaucracy and strengthening employment. "Malaysian businesses have demonstrated greater adaptability, productivity and innovation, making our companies more competitive. "The country's strong economic growth, low inflation and healthy employment conditions all contribute to this upward trajectory," he said in a statement. According to Ng, Malaysia's improvement is particularly noteworthy within the Southeast Asian context. Among Asean members, Malaysia now outperforms Thailand (30th), Indonesia (40th) and the Philippines (51st). "Our progress underscores our ability to implement reforms effectively and signals to investors and businesses that Malaysia continues to be a leading destination for investment and growth in Southeast Asia," he said. In addition, Ng said more needs to be done to realise Ekonomi Madani's ambitious goal of breaking into the top 12 of the ranking by 2033. To further enhance Malaysia's competitiveness and move up the ranking, Ng said the nation needs to strengthen digital transformation, improve skills and education, cut bureaucracy, provide policy consistency and boost research and development initiatives. "Providing greater incentives and support for companies, especially small and medium enterprises, to leverage technology and innovate is key. "Ensuring policy stability and reducing red tape will help businesses operate more efficiently and respond faster to market opportunities," he added.
Borneo Post
9 hours ago
- Business
- Borneo Post
PM hails reforms and public-private cooperation for surge in global competitiveness ranking
Anwar has praised Malaysia's jump to rank 23rd in the IMD World Competitiveness Ranking 2025. — Bernama photo PUTRAJAYA (June 17): Datuk Seri Anwar Ibrahim has today lauded Malaysia for jumping 11 places to rank 23rd in the IMD World Competitiveness Ranking 2025, marking its best performance in five years. The Prime Minister said the surge reflected the effectiveness of his administration's reform initiatives and the collective efforts of both the public and private sectors. 'We have proven that Malaysia is capable of making great strides forward through strong political will, the commitment of the entire government machinery, and close cooperation with the private sector,' he said in a statement here. He said Malaysia's improvements in trade, administrative efficiency and the investment environment had laid the groundwork for sustainable and inclusive economic growth. 'This achievement belongs to all Malaysians,' Anwar added. He described the latest ranking as a significant step towards the country's goal of becoming one of the world's most competitive economies by 2033. The Ministry of Investment, Trade and Industry (Miti) said earlier the latest ranking, up from 34th last year, reaffirmed the nation's trajectory towards becoming one of the world's top 12 most competitive economies by 2033 as targeted under the Madani Economy framework. 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. Miti said the international trade sub-factor increased 11 places to sixth, as strong export growth in goods and services, diversified markets, and rising tourism receipts strengthened Malaysia's trade surplus. The ministry also expressed confidence that with strong governance, continuous commitment from the federal and state governments and close cooperation with the private sector, Malaysia is on the right path to position itself among the world's 12 most competitive economies by 2033. According to the IMD World Competitiveness Centre, the annual ranking assesses countries based on four factors: economic performance, government efficiency, business efficiency, and infrastructure. The ranking evaluates 69 economies and is compiled using both hard data and survey responses from executives. — Malay Mail anwar ibrahim IMD World Competitiveness Ranking 2025
