Malaysia Global Competitiveness risen to rank No.13
Date：2014/06/19
[Orientaldaily.com] According to ‘2014 Annual Global Competitiveness Report’ published by the Lausanne International Institute for Management Development (IMD), Malaysia global competitiveness achieved a good performance, from last year No.15 rise to No.13.
Rank number 1 is United State, Switzerland on the second. In recent 10 years, Hong Kong first time fell out of top 3 ranking, listed No.4, Singapore surpass of Hong Kong, rank on No.3.
Switzerland Lausanne International School of Management began to publish of global competitiveness ranking report since 1989, it has been 25 years. Report analyze primarily based on economic performance, government efficiency, enterprise business efficiency, infrastructure. And the breakdown include GDP, increased foreign investment, corruption investigations, aging population and others aspects.
IMD competitiveness ranking coverage of 60 countries.
Director of IMD Business School Mr. Arturo Bris said: “global overall competitiveness show the economic growth in US, partial recovery of Europe, and some emerging market are still struggling on the edge. There are no so-called secret to allow increase of economic competitive.
Report pointed out that United State keep the champion on 2014, showing their stability of economic, better employment date, technology, and infrastructure aspects.
No much changes for top 10 ranking, minor economies such as Switzerland, Singapore and Hong Kong doing well driven by business efficiency and creativity.
Hong Kong and Taiwan's ranked regress
Reports that Hong Kong ranks dropped to No.4, but still highly competitiveness with Asian countries. Due to poor business environment, China dropped to No.23.
IMD believes that Japan’s monetary policy promoting the foreign trade, 3 rank increase compare to last year, ranked No.21. Caused by the political instability in Thailand recent years, ranking dropped to No.29. Among Southeast Asian countries, increase of Malaysia and Indonesia (37) rank.
Taiwan continuous decline for 3 years, from last year No.11 dropped to this year No.13. Lausanne International Institute for Management believes that Taiwan’s challenges is to accelerate the industries restructuring and upgrading, economic liberalization, create of employment and equality of salary, promoting of green economic to increase of economic competitiveness, and should foster the development of social solidarity and social integration.
Europe’s performance is better than last year caused by the gradually economic recovery. Denmark squeeze into top 10, ranked No.9. Europe countries raked into top 10 is: Switzerland (2), Sweden (5), Germany (6) and Norway (10). Neighboring countries of European, rank increase: Irish (15), Spain (39) and Portugal (43); rank fell: Italy (46) and Greece (57)
Downward trend of competitiveness for most major emerging market, mainly because of the economic slowdown, reduce of foreign investment and insufficient of infrastructure. India (44) and Brazil (54) are facing the shortage of labor and lack of business management skills issues. Rank fell for Turkey (40), Mexico (41), Philippines (42), and Peru (50).
When conducting competitiveness ranking, IMD World Competitiveness Center also studies countries’ business image. Based on executive’s point of view regarding the domestic market image for outsider, and work out Foreign Business Image Leader Board.
Malaysia ranked 15th in business image
Among the top 10 competitiveness countries, 7 countries are also squeeze into top 10 ranking of foreign business. This shows a very high relevance between a country’s competitiveness and international business image.
Singapore executive officer is the most optimistic group for their country image. Ireland, Chile, Qatar and Korea external image ranking higher than competitiveness ranking.
Instead, executive of United State, France, Taiwan and Poland’s has not so optimistic for their international image.
Although economic growth performance are changing every year, however, is relatively slow in changing of people perception.
Malaysia’s business image ranked No.15, lower than the competitiveness ranking.