World

Malaysia ranked third in world retail development index

Malaysia has been ranked third in the 2017 Global Retail Development Index (GRDI) by AT Kearney, reported the Malaysian news agency Bernama.
Malaysia ranked third in world retail development index ảnh 1Illustrative image (Source: nst.com.my)

Kuala Lumpur (VNA) - Malaysia has beenranked third in the 2017 Global Retail Development Index (GRDI) by AT Kearney,reported the Malaysian news agency Bernama.

This was the second consecutive year the globalmanagement consulting company placed Malaysia at this ranking.

AT Kearney Partner and Head of Southeast Asia,Soon Ghee Chua said Malaysia was ranked only behind China and India thanks toan influx of tourists, higher disposable income and government investments ininfrastructure.

According to him, despite currency depreciation,retail sales in the Southeast Asian country grew 3.8 percent in 2016, driven inlarge part by a 6.1 percent increase in private consumption.

He said Malaysia's retail market continued togrow despite a slight dip in overall gross domestic product growth andshort-term pressures of currency fluctuation and inflation.

The sector’s long-term prospects will continueto remain strong, he noted.-VNA
VNA
#Global Retail Development Index#AT Kearney#Bernama#Soon Ghee Chua#retail sales#Malaysia retail market#private consumption#Malaysia#Vietnam News Agency#Vietnamplus
Follow VietnamPlus

Related News

Malaysia enjoys high economic growth in Q1

Malaysia enjoys high economic growth in Q1

Malaysia’s economic growth in the first quarter of 2017 reached 5.6 percent, higher than the 4.1-percent rise in the same time last year and the highest rate in the recent two years, according to Bank Negara Malaysia (BNM).

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.