Wednesday, September 7, 2011

#BNbagus GCI - Malaysia ranked 3rd, behind Singapore and Hong Kong for financial market development

Improved M'sia climbs up competitive ladder

PETALING JAYA: Malaysia has made 'improvements across the board' to climb five places up in the latest Global Competitiveness Report among 183 countries.

The report, released by the World Economic Forum (WEF), puts Malaysia at 21st spot (from 26th) as having scored an overall 5.08 out of the maximum seven points for “improvements across the board”. Its previous score was 4.88.

Malaysia is also ranked third among the world's economies - behind Singapore and Hong Kong - for its financial market development, and 15th for its highly efficient goods market.

It is also the second most competitive economy in Asean and the sixth among Asia-Pacific economies.

The report also stated that Malaysia's progress had been particularly noteworthy under the forum's pillars on institutions and macroeconomics as well as in several measures of market efficiency.

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