Hey, I found another piece of news which many would either ignore or say this must be fabricated, somehow. How can a country so many said is turning into a failed state be ranked so high versus the world today? Malaysia is ranked 18th in the latest world competitiveness report by the World Economic Forum. This is my country’s highest ranking since the influential report started in 2005. World Economic Forum measures and ranks 140 economies based on a total of 12 pillars. Nope, there is not a single benchmark based on ‘perception among Facebook users,” if you want to know. The full report can be read here: WEF Competitiveness Report.
Oh yeah, these are some of the information from the ranking. Malaysia is ranked top within the 20 economies under the transition stage from an efficiency-driven to innovation-driven economy. The report showed that Malaysia’s competitiveness lies in goods market efficiency and financial market development pillars in which Malaysia is ranked in the top ten at 6th and 9th positions respectively. Besides that, Malaysia has improved in most of the 12 pillars. In the macroeconomic stability, Malaysia improved nine places and is now 35th. One major reason, budget deficit has been reduced to the lowest in 6 years. Currently at 3.7 percent of GDP. In the Higher Education & Training, we are now 36th having improve 10 places. In Technology readiness, Malaysia is now at 47th, improving by 13 places. Full methodology on all the pillars are here: GCI Methodology
There are some areas of concern in rising higher up the competitiveness ranking further and these include redundancy costs, women in labour force and gross secondary education enrolment. So, yes, there are definitely still lots of improvements needed but 18th out of 140 economies? I am not sure if ringgit should really be punished so much by all the savvy investors who continue to ‘anticipate’ instead of really looking at the numbers versus that particular economy who is rising despite still showing some vulnerabilities today. Happy investing in whatever you believe. Just do not say something but act otherwise yeah.
written on 30th Sept 2015
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