Malaysia among top 10 most competitive countries worldwide

19:42, May 19, 2010      

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Malaysia has earned a position among the 10 most competitive countries in the world, a Malaysian official said here on Wednesday.

This was also the first time the country entered the top-10 list of the 2010 World Competitiveness Yearbook, Malaysian International Trade and Industry Minister Mustapa Mohamed told a press conference here.

The yearbook is published by the Swiss-based Institute for Management Development.

According to the yearbook, Malaysia's competitiveness ranking moved up eight positions from the 18th in the previous year to the 10th among 58 countries.

Mustapa attributed the remarkable improvement to government efficiency and business efficiency, adding that the various transformation programs introduced by the Malaysian government had started to deliver results.

He also stressed that Malaysia was the only developing nation ranked in the top-10 list, staying ahead of other developed nations such as the Netherlands, Denmark, Austria and Germany.

However, the minister noted that the Malaysian government recognized that there were still areas where more work was needed, including the improvement of its services delivery system and strengthening of quality investments.

Small and medium enterprises in the country also needed to be groomed for global competition, said Mustapa, adding that the innovative and creative mindset of Malaysians must continue to be nurtured.

Source: Xinhua


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