Wednesday, May 19, 2010

We are the 10th most competitive

So, Malaysia is the world's 10th most competitive economy. We are proud, of course. It reflects how much the government under the stewardship of Datuk Seri Najib Tun Razak has excelled tremendously in just a year.

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.


life is not a fairy tale dude said...

Bravo Datuk Seri Najib. Keep up the good work.

Relinquishing the special rights of the Malay

Anonymous said...

yang peliknya, singapura yang jadi nombor satu pun tak bising macam kita.

anti-rating said...

bro jai,

we may be at no.1, no.10 or no.50. what matters most is the rakyat must gain the benefit of the economy.

some ratings are agenda-driven. most of it are aimed at destabilising one's economy as to make them complacent with good reports.

some rating agencies too are not telling the whole truth about the actual situation of our economy. the reason being, they want us to relax...

Anonymous said...

good sign.

good rating.

good govt.

good economy

.... but not so good of its politics!

penny less said...

congratulations to najib's administration.

hope to see malaysia achieve what is best for the people.

dont rely too much on such ratings

man bonet said...

jangan tenggelam punca, wahai malaysia!

adakalanya pujian tu sengaja diberikan untuk membuat kita alpa, lalai dan lupa.

si pitak said...

apa ertinya kedudukan sebagai antara negara paling competitive di dunia jika ramai rakyat masih miskin.

usaha kerajaan menarik pelabur asing amat baik tetapi jika peluang yang ada hanya untuk mereka di bandar, maka akan hanyutlah kita pada pilihanraya umum akan datang.

rakyat tidak melihat kepada kejayaan ekonomi semata-mata. apa yang penting ialah taraf hidup mereka juga patut meningkat sejajar dengan kepesatan ekonomi.

jangan terlalu ghairah dengan kejayaan seperti ini jika masa depan penduduk luar bandar dan generasi kedua felda masih di takuk lama.

mereka inilah yang mengundi umno dan barisan nasional selama 12 PRU.

tetapi jika kereta kancil pun mereka tak mampu beli, alamatnya jadi kancillah bn pada PRU akan datang

Anonymous said...

jai, u should compare ours to singapore, not south korea.

looking at singapore, their economic management should be emulated.... but not their GLC-way

MASTANA said...



Anonymous said...

nothing to shout about.

being no.10 is like being at the bottom.

try going for 1, 2 or 3...

the saint said...

are we really competitive?

being one of the most advanced-developing nations, poverty should have been eradicated a long time ago.

but why are there still many poor folks in the country?

Anonymous said...

sorry bro. i dont believe in all ratings like this.

most of them are nonsense!

atanjamilselamat said...

can't someone explain what all these to kampong folks?

Masam Manis said...

Great that Malaysia achieved 10% GDP growth in 1st QTR. Now consider this as reflective of Malaysia performance for 2nd QTR

1. Entire Europe economy is shaking because of sovereign debt, US economy is retreating based on DOW JONES Index and so is Japan.

2. Malaysia currency is gaining against US and EURO which makes our products more expansive to them.

3. Price of crude oil which Malaysia dependent as major income source has dropped below USD70 from USD 90 in March (remember USD is cheaper now than RM).

Unless we believe that Malaysia is not a member of global economy, we need remind our politicians to stop self glorifying and start bracing of potential economy crisis effect. It appears the contagion effect about ruin the party BIG TIME.