Malaysia is the second most competitive country in ASEAN, after Singapore and remains highly competitive among Asian nations this year. It is ranked the sixth most competitive after Singapore, Japan, Hong Kong, Taiwan and South Korea in the region. But Asia’s two emerging economic giants — China and India — are lower down the ladder.
Among the “notable competitive advantages” listed for Malaysia are Foreign Direct Investment and technology transfer, government procurement of technology products, overall infrastructure quality, technological readiness and laws relating to ICT.
Malaysia is also well-known as one of the main tourism destination in ASEAN.
While Malaysia’s overall competitiveness ranking has dropped one rung to 26th — it was 25th last year — among 125 countries worldwide, in terms of “market efficiency” it is ranked ninth, with Hong Kong taking the pole position followed by the United States and the United Kingdom in second and third position respectively…..
“There is no question that the country has come a long way and has excellent prospects,” said Augusto Lopez-Carlos, Chief Economist and Head of the World Economic Forum’s Global Competitiveness Network.