PETALING JAYA: The World Economic Forum (WEF) Global Competitiveness Report 2017-2018 has rated Malaysia as the 15th most efficient country globally out of 137 countries where government spending is concerned.
The report, released today showed Malaysia doing better than countries such as China, Japan and Sweden.
Meanwhile, out of the nine Asean countries, Malaysia ranked second in terms of government spending efficiency.
Besides that, Malaysia ranked third in the world for its strength in investor protection and was placed fifth in its burden of government regulations.
Malaysia climbed up two spots from being ranked 25th last year to become 23rd this year in terms of overall global competitiveness.
According to the report, Malaysia is the region’s top emerging economy, ahead of countries such as South Korea and China, which was ranked 26th and 27th respectively.
Meanwhile, Singapore has secured second position globally out of 137 countries for efficiency in government spending, with the United Arab Emirates being in first place.
Featuring the Global Competitiveness Index (GCI), the report assesses the competitiveness landscape of 137 economies, providing unique insight into the drivers of their productivity and prosperity.
The annual report measures national competitiveness, which is defined as the set of institutions, policies and factors that determine the level of productivity.
The study used 70% survey data obtained from the United Nations and 30% data from the 137 countries. – MO