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Singapore, Malaysia remain in world competitiveness rankings’ top 15

Singapore and Malaysia have maintained their positions in the top 15 of the world competitiveness rankings, according to the World Competitiveness Yearbook (WCY) published by the Swiss International Institute for Management Development (IMD).
Singapore and Malaysia have maintained their positions in the top 15of the world competitiveness rankings, according to the WorldCompetitiveness Yearbook (WCY) published by the Swiss InternationalInstitute for Management Development (IMD).

Studying a total of61 countries worldwide, the rankings were based on four criteria,comprising of economic performance, government efficiency, businessefficiency and infrastructure.

Malaysian Minister ofInternational Trade and Industry, Mustapa Mohamed, said that being inthe top 15 reflects the economy’s resilience and competitiveness, addingthat of the four criteria, Malaysia recorded the biggest improvement inits economic performance.

Although Malaysia slipped by twoplaces to 14th, the country has improved its competitiveness points to84.11 from 82.09 in 2014.

Meanwhile, Singapore claimed theimpressive third position with 94.95 points, following the US (100points) and Hong Kong (China) (96.04 points).

The country was leapfrogged in the list by Hong Kong.

Europeancountries present in the top 15 included Switzerland (91.92 points),Luxembourg (89.41 points), Norway (87.92 points), Denmark (87.08points), Sweden (85.92 points) and Germany (85.64 points).-VNA
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