00:00Malaysia has advanced 11 spots in the International Institute for Management Development World Competitiveness Ranking
00:08to 23rd among 69 economies, up from the 34th placing last year.
00:14In a statement yesterday, the Investment, Trade and Industry Ministry noted that the ranking is the nation's best since 2020.
00:22The ministry said this reflects a progressive momentum in Malaysia's economic recovery and reform agenda
00:28and reaffirms its trajectory towards becoming one of the world's top 12 most competitive economies by 2033.
00:36Last year, Malaysia fell seven places to 34th out of 67 countries worldwide
00:41and four places to 10th out of 14 countries in the Asia-Pacific region.
00:47The nation experienced a decline in nearly all factors including economic performance,
00:52government efficiency and business efficiency, except infrastructure in which it retained its position.
00:57However, the ministry said that this year, economic performance, government efficiency and business efficiency
01:04were the main factors driving the nation's progress.
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