Malaysia's global competitiveness ranking dropped three positions to 24, according to the World Economic Forum's (WEF) Global Competitiveness Report for 2009-2010.
The drop essentially was the result of a much poorer assessment of its institutional framework, said the report, which was released ahead of WEF's annual meeting of the New Champions 2009 in Dalian, China.
The report said every indicator in the area had been exhibiting a downward trend since 2007, causing Malaysia to tumble from 17th to 43rd position in this dimension in just two years.
Asia continued to feature prominently with Singapore at third and Japan at eighth, and Hong Kong, South Korea and Taiwan all in the top 20. The report also said security was of particular concern in Malaysia with its ranking dropped 25 levels to 85th.
According to the business community, the potential of terrorism (ranked 97th) and crime (ranked 95th) both imposed significant business costs.
Also of concern was the budget deficit, which increased last year, amounting to almost 5 per cent of Malaysia's GDP, it said.
However, Malaysia scored high in most other dimensions particularly in those factors at the top end of the value chain, namely business sophistication (ranked 24th) and innovation (also ranked 24th). - Bernama
1 comment:
a big drop !! gambathe Malaysia
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