Govt taking appropriate action to enhance Malaysia's competitiveness ranking - PM - MIDA | Malaysian Investment Development Authority
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Govt taking appropriate action to enhance Malaysia’s competitiveness ranking – PM

Govt taking appropriate action to enhance Malaysia’s competitiveness ranking – PM

25 Jun 2024

The government is looking at and taking the appropriate action to raise Malaysia’s position in the IMD World Competitiveness Ranking (WCR), which currently stands at number 34.

Prime Minister Datuk Seri Anwar Ibrahim said this includes enhancing the country’s economic management, strengthening the ringgit, and implementing targeted subsidies, which are expected to boost the ranking.

“There are certainly weaknesses that must be addressed. I just want to point out that generally, the report maintains our position as a stable economy. Based on the IMD report, Malaysia is in eighth spot for the economic performance sub-factor, so it is still not concerning.

“I do not deny that (we must worry about) the ringgit’s performance previously as well as our higher expenditure for subsidies and being late in subsidy rationalisation, but I believe that if we resolutely take the (appropriate) measures, our ranking will jump,” he said during the Ministers’ Question Time in the Dewan Rakyat today.

He was replying to a supplementary question from Afnan Hamimi Taib Azamudden (PN-Alor Setar), who wanted to know the government’s strategy following the decline in WCR ranking.

On Afnan Hamimi’s remark that the decline is seen as a reflection of the Cabinet’s performance, Anwar said the performance is a shared responsibility for all.

“If there is criticism that we are being neglectful, we will strive to improve; and this is the responsibility for everyone, not just the Cabinet members, secretaries general, directors general and government agencies.

“I concur that everyone, including me and those under the ministers, should do our best to improve performance, and I will convey it to the Cabinet,” the Prime Minister added.

Source: Bernama