Malaysia moves up GCI ranking

PETALING JAYA: MALAYSIA has jumped two rungs to join the ranks of the top 20 most competitive economies in the world this year.

The World Economic Forum (WEF) today raised Malaysia to 18th spot from 20th last year under its Global Competitiveness Report 2015-2016, which covers 140 countries, placing Malaysia well on track towards a high-income developed status in less than five years.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed described the latest placing as welcome news in the current challenging global environment.

“It endorses the progress we have made in enhancing efficiency and competitiveness through the Government Transformation Programme and Economic Transformation Programme,” he said in a statement yesterday.

The challenges, as highlighted by the WEF to ensure economic sustainability and growth, serve as a reminder there is no room for complacency.

For more information, log on to www.nst.com.my