GEORGE TOWN: Malaysia is far from being a bankrupt nation, as proven in the recently released World Economic Forum (WEF) Global Competitiveness Report 2017-2018, a political observer pointed out.
According to the report, Malaysia climbed two spots from being ranked 25th last year to 23rd this year in terms of overall global competitiveness.
“Pushing up two places from number 25 in 2016 to number 23 in 2017 is a big achievement which even the Opposition should acknowledge considering the current uncertainty in global economy.
“This also shows that (Datuk Seri) Najib Razak’s government is doing the right thing to strengthen the economy and (allowing it to) remain competitive,” Azizi Safar told Malaysia Outlook.
According to Azizi, the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP) introduced by Prime Minister Najib in 2009 soon after he took over the premiership had proved to be successful in boosting Malaysia’s economy which helped to contribute to the competitive ranking.
“The implementation of The National Blue Ocean Strategy (NBOS) initiatives further add to more efficient spending of government resources,” said Azizi.
The report rated Malaysia as the 15th most efficient country globally out of 137 countries where government spending is concerned and number two in the Asean region.
Azizi also said that Malaysians should be proud of the fact that Malaysia remains the best ranked emerging economy in Asia, as shown in the report.
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.
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