Citing Malaysia's ability in wooing more foreign investments, political stability and a pragmatic government policy as among the criteria for elevating its position from 18th in 2009, the International Institute of Management Development (IMD) in its World Competitiveness Yearbook 2010 also praised Malaysia for its bold economic approach.
It was referring to the RM67 billion stimulus package unveiled by Najib, who is also Finance Minister, to mitigate the economy from the global slowdown due to the fallout from the US subprime credit crisis (full report here).
Malaysia was also ranked highly, thanks to what IMD said was the strong resilience of the economy to (down) cycles, sufficient transparency among financial institutions and government bureaucracy not being a hindrance to business activity as evident from the rapid expansion in the economy over the past year.
After languishing from the global economic crisis, the economy recovered in fourth quarter of last year by 4.4 per cent and even more remarkable by a 10.1 per cent in the first quarter of this year.
The IMD World Competitiveness Yearbook (WCY) is the world's most renowned and comprehensive annual report on the competitiveness of nations, ranking and analysing how a nation's environment creates and sustains the competitiveness of enterprises.
I dont remember what was the best position we every had under the Reports but I believe this is our best ever.
Note: I compare Malaysia's position to that of South Korea as we used to be positioned behind them about 10 years ago.