🔎 Competitiveness Check: Malaysia’s Moves Toward Global Success
Did you know? Malaysia was recently ranked 34th out of 67 countries in the International Institute for Management Development (IMD) World Competitiveness Ranking. While this seven-spot drop seems concerning, there is hope!
The Malaysian government is confident in improvements, and JP Morgan has also upgraded Malaysia’s rating from underweight to neutral after six years, citing policy reforms, data centre investments, and infrastructure development.
With a 4.2% GDP growth in Q1 2024 and notable earnings growth, the government’s bold measures, like rationalising subsidies and launching the National Energy Transition Roadmap and New Industrial Master Plan 2030 are gaining praise.
Foreign investors are returning, attracted by investments in data centres, electric vehicles, and green energy.
As we await for the next ranking, what do you think the government and local businesses should do to improve Malaysia’s competitiveness ranking?
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