Malaysia up 2 spots to 23rd in global competitiveness ranking

KUALA LUMPUR: After suffering a steep fall in last year’s ranking, Malaysia moved up two spots to the 23rd place out of 137 countries in the World Economic Forum’s (WEF) 2017-2018 Global Competitiveness Report (GCR) released today.

The country was in the 18th place in 2015, but fell seven spots to 25th in 2016.

In a statement, International Trade and Industry Minister (Miti) Datuk Seri Mustapa Mohamed said the latest ranking affirms the strength of Malaysia’s macroeconomic fundamentals and that its economic policies are on the right track. “Our exports are doing well and we continue to receive healthy flows of foreign direct investments,” said Mustapa.

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