September 7, 2011
Malaysia up five spots upon tellurian competitiveness scale
Malaysia has risen five spots to 21st place in the World Economic Forums Global Competitiveness Index 2011 ranking. Switzerland was ranked the most rival country, followed by Singapore, Sweden, Finland as well as the US.
Among Asian countries, Malaysia was ranked the fifth most rival nation during the back of Singapore (2), Japan (9), Hong Kong (11) as well as Taiwan (13).
Malaysias fixation this year matches the ranking in 2008 as well as an alleviation over the 24th as well as 26th fixation in 2009 as well as 2010 respectively.
We have met our aim to be in tip quartile, said Minister of International Trade as well as Industry Datuk Seri Mustapa Mohamed in the briefing upon the rankings.
The Malaysian Productivity Council (MPC) said in the report upon this years ranking which the mutual characteristic of the tip 10 countries were which they were during the forefront of innovation.
The dominant source of rival value is the capability of these countries particularly Switzerland, Singapore as well as Sweden to furnish innovative products as well as services during the tellurian technological limit regulating the most modernized methods, said MPC. They are additionally characterised by the tall share of services in the manage to buy as well as are utterly resilient to external shocks.
In conditions of individual criteria, Malaysia ranked tall in monetary market development (3) though low in conditions of aloft preparation (38), illness as well as primary preparation (33), institution! s (30) a s well as technological willingness (44).
Malaysia additionally ranked 15th for products market efficiency, 20th for labour market ! efficien cy, 26th for infrastructure, 20th for business sophistication, as well as 24th for innovation.
The World Economic Forum endorsed which for Malaysia to urge the competitiveness, it indispensable to boost the performance in preparation as well as the technological readiness. The annual World Economic Forum ranking defines competitiveness as the set of institutions, policies as well as factors which determine the turn of productivity of the country.
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