Latest news with #NationalCompetitivenessCommittee
The Sun
4 days ago
- Business
- The Sun
Malaysia rises to 23rd in 2025 World Competitiveness Rank
KUALA LUMPUR: Malaysia has jumped 11 spots in the World Competitiveness Ranking (WCR) 2025 to 23rd place -- its best ranking since 2020 -- reflecting the progressive momentum in the country's economic recovery and reform agenda. The Ministry of Investment, Trade and Industry (MITI) said the latest ranking, up from 34th last year, also reaffirmed the nation's trajectory towards becoming one of the world's top 12 most competitive economies by 2033 as targeted under the MADANI Economy framework. 'Economic performance, government efficiency and business efficiency factors drove Malaysia's overall competitiveness performance,' it said in a statement today. Malaysia ranked fourth globally in economic performance, improving four spots from eighth place last year. Both government efficiency and business efficiency factors improved by eight positions. MITI said the international trade sub-factor increased 11 places to sixth, as strong export growth in goods and services, diversified markets, and rising tourism receipts strengthened Malaysia's trade surplus. The ministry also expressed confidence that with strong governance, continuous commitment from the federal and state governments and close cooperation with the private sector, Malaysia is on the right path to position itself among the world's 12 most competitive economies by 2033. Commenting on the WCR 2025 ranking, MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government's whole-of-government approach under the MADANI framework demonstrated its commitment to holistic structural reforms. 'Malaysia's move up the rankings by 11 positions to 23rd from 34th last year reflects how bureaucracy-related reforms are closely intertwined with facilitating robust investment and industrial growth, both critical for enhancing Malaysia's attractiveness as a preferred investment destination,' he said. MITI, through the National Competitiveness Committee (JKDSN) – co-chaired with Finance Minister II Datuk Seri Amir Hamzah Azizan – coordinates the strategic direction across ministries to enhance Malaysia's competitiveness. At the operational level, the Special Taskforce on Agency Reform (STAR), led by the Chief Secretary Tan Sri Shamsul Azri Abu Bakar, ensures effective implementation of competitiveness initiatives, including over 1,000 Reformasi Kerenah Birokrasi (RKB) projects aligned to the Public Service Reform Agenda (ARPA). The WCR is published annually by the Institute for Management Development based in Switzerland. It is a comprehensive report that evaluates countries based on their ability to create and maintain a business-friendly environment that fosters long-term prosperity.
The Sun
4 days ago
- Business
- The Sun
Malaysia advances 11 spots in World Competitiveness Ranking 2025
KUALA LUMPUR: Malaysia has jumped 11 spots in the World Competitiveness Ranking (WCR) 2025 to 23rd place -- its best ranking since 2020 -- reflecting the progressive momentum in the country's economic recovery and reform agenda. The Ministry of Investment, Trade and Industry (MITI) said the latest ranking, up from 34th last year, also reaffirmed the nation's trajectory towards becoming one of the world's top 12 most competitive economies by 2033 as targeted under the MADANI Economy framework. 'Economic performance, government efficiency and business efficiency factors drove Malaysia's overall competitiveness performance,' it said in a statement today. Malaysia ranked fourth globally in economic performance, improving four spots from eighth place last year. Both government efficiency and business efficiency factors improved by eight positions. MITI said the international trade sub-factor increased 11 places to sixth, as strong export growth in goods and services, diversified markets, and rising tourism receipts strengthened Malaysia's trade surplus. The ministry also expressed confidence that with strong governance, continuous commitment from the federal and state governments and close cooperation with the private sector, Malaysia is on the right path to position itself among the world's 12 most competitive economies by 2033. Commenting on the WCR 2025 ranking, MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government's whole-of-government approach under the MADANI framework demonstrated its commitment to holistic structural reforms. 'Malaysia's move up the rankings by 11 positions to 23rd from 34th last year reflects how bureaucracy-related reforms are closely intertwined with facilitating robust investment and industrial growth, both critical for enhancing Malaysia's attractiveness as a preferred investment destination,' he said. MITI, through the National Competitiveness Committee (JKDSN) – co-chaired with Finance Minister II Datuk Seri Amir Hamzah Azizan – coordinates the strategic direction across ministries to enhance Malaysia's competitiveness. At the operational level, the Special Taskforce on Agency Reform (STAR), led by the Chief Secretary Tan Sri Shamsul Azri Abu Bakar, ensures effective implementation of competitiveness initiatives, including over 1,000 Reformasi Kerenah Birokrasi (RKB) projects aligned to the Public Service Reform Agenda (ARPA). The WCR is published annually by the Institute for Management Development based in Switzerland. It is a comprehensive report that evaluates countries based on their ability to create and maintain a business-friendly environment that fosters long-term prosperity.
New Straits Times
5 days ago
- Business
- New Straits Times
Malaysia jumps 11 spots in world competitiveness ranking, best since 2020
KUALA LUMPUR: Malaysia has risen 11 places in the World Competitiveness Ranking (WCR) 2025, moving to 23rd out of 69 economies, the country's best ranking since 2020. The World Competitiveness Ranking (WCR), published annually by the Institute for Management Development in Switzerland, is a comprehensive report that assesses countries on their ability to create and sustain a business-friendly environment that drives long-term prosperity Advancing from 34th place last year, the improved ranking reflects the strong momentum in Malaysia's economic recovery and reform efforts, according to a statement by the Investment, Trade and Industry Ministry. The ranking reaffirms the country's path toward becoming one of the world's top 12 most competitive economies by 2033 outlined in the Madani Economic Framework. The ministry said economic performance, government efficiency and business efficiency factors drove Malaysia's overall competitiveness performance. Malaysia ranked 4th globally in economic performance, climbing four spots from 8th place last year, while both government efficiency and business efficiency factors saw an improvement of eight positions. The international trade sub-factor increases 11 places to 6th, supported by strong export growth in goods and services, diversified markets and rising tourism receipts, strengthening Malaysia's trade surplus. The ministry, through the National Competitiveness Committee - co-chaired with the Finance Minister II Datuk Seri Amir Hamzah Azizan – coordinates the strategic direction across ministries to enhance Malaysia's competitiveness. At the operational level, the Special Taskforce on Agency Reform (STAR) – led by the chief secretary to the government Tan Sri Shamsul Azri Abu Bakar – ensures effective implementation of competitiveness initiatives. This includes over 1,000 Reformasi Kerenah Birokrasi projects aligned to the Public Service Reform Agenda. Investment, Trade and Industry Ministry Tengku Datuk Seri Utama Zafrul Aziz said the ranking reflects how bureaucracy-related reforms are closely intertwined with facilitating robust investment and industrial growth, both critical for enhancing Malaysia's attractiveness as a preferred investment destination. "The government's whole-of-government approach under the Madani framework also demonstrates its commitment to holistic structural reforms," he added. The ministry is confident that through strong governance, continuous commitment from the federal and state governments, along with close cooperation with the private sector, Malaysia is on the right path to position itself among the world's 12 most competitive economies by 2033.
Zawya
17-03-2025
- Business
- Zawya
Oman makes notable progress in all global competitiveness indicators
Muscat: The National Competitiveness Office has announced that Oman made notable progress in several international indicators during 2024. The Sultanate advanced 20 ranks in the Corruption Perceptions Index, securing the 50th position globally among 180 countries. Oman also climbed over 90 ranks in the Environmental Performance Index, now holding the 55th position worldwide, and improved four ranks in the Network Readiness Index, ranking 50th out of 133 countries. Additionally, Oman's Economic Freedom Score improved from 62.9 to 65.4 in 2025, classifying its economy as 'moderately free.' In global governance indices, Oman's Rule of Law indicator reached 70.2 out of 100, Regulatory Quality rose to 66.5 out of 100, and Government Effectiveness improved to 62.2. Dr. Salem bin Abdullah Al-Sheikh, Director of the National Competitiveness Office at the Ministry of Economy, attributed these achievements to the efforts of national committees and task forces established to monitor these indicators. He emphasised the contributions of the National Competitiveness Committee and specialised teams working on areas such as innovation, network readiness, environmental performance, and business readiness. In his statement to the Oman News Agency, noted that these teams have worked diligently to enhance Oman's performance in these areas. A study on the Corruption Perceptions Index gave recommendations, which were referred to relevant authorities for implementation, leading to noticeable improvements in international indicators. He highlighted that Oman's progress is driven by overall government performance, the enactment of new laws, governance improvements, and projects initiated by various government bodies. Efforts by the National Centre for Statistics and Information to provide, improve, and update data with international organisations also played a vital role in improving the status. Dr. Al-Sheikh added that the collective efforts of the government, private sector, civil society, and the community's response to surveys from international experts have positively reflected on Oman's global rankings. He reiterated the commitment of the National Competitiveness Committee and Office to further elevate Oman's competitive indicators over the coming years. The Sultanate aims to enhance its standing in indicators such as innovation, environmental performance, business readiness, and future growth. Oman is also preparing to be part of the Ease of Doing Business Index in its new format and the Future Growth Index, focusing on internal improvements and a clear vision aligned with international standards. Dr. Yusuf bin Hamad Al-Balushi, an economic expert and founder of the Smart Gateway for Consultations and Investments, stressed the importance of competitiveness indices as tools to enhance business environments and attract investors. He noted that these indicators provide a roadmap for policy makers to address challenges and bolster the Sultanate's international reputation, which is crucial for investors and researchers. He also emphasised that while Oman has achieved significant progress in international indices, there remains room for further improvement to drive transformative changes in the structure of the national economy. © Muscat Media Group Provided by SyndiGate Media Inc. (
Observer
15-03-2025
- Business
- Observer
Oman makes progress in international indices
MUSCAT: The National Competitiveness Office (NCO) said that the Sultanate of Oman has made remarkable progress in a number of international indices. In 2024, the Sultanate of Oman advanced 20 places in the Corruption Perceptions Index ranking 50th globally out of 180 countries. It also advanced more than 90 places in the Environmental Performance Index, ranking 55th globally. Besides, the Sultanate of Oman advanced four places ranking 50th in the Network Readiness Index which measured the digital readiness of 133 countries. The Sultanate of Oman's score in the Index of Economic Freedom in 2025 also rose from 62.9 to 65.4 out of 100, classifying its economy as fairly free. The country's score in the Global Governance Indicators and Rule of Law Index rose to 70.2 out of 100. The Sultanate of Oman saw its score in the Regulatory Quality Index rising to 66.5 out of 100 and that of the Government Effectiveness Index rising to 62.2 out of 100. Dr Salem bin Abdullah al Shaikh, Director of the National Competitiveness Office at the Ministry of Economy, attributed the progress to the efforts undertaken by the national committees and teams tasked with monitoring these indicators as well as the formation of national teams by the National Competitiveness Committee including the Innovation Team, Network Readiness, Environmental Performance and Business Readiness Team. These entities have worked over the past period to improve the country's performance in global indices. A study was conducted on the Corruption Perceptions Index and came out with a set of recommendations. These recommendations were referred to the relevant authorities and their implementation was monitored leading to an improvement in all international indicators, he said, emphasising that the improvement in the indicators was the result of the overall government performance which contributed to the improvement of several indicators. This is in addition to the issuance of several laws, the governance of some government agencies and the implementation of some projects initiated by the government departments and establishments as part of their annual plans. In addition, the National Centre for Statistics and Information (NCSI) is making constant efforts to provide, improve and update data for the United Nations organisations, the official said. Al Shaikh added that the improvement in the overall international competitiveness indices was the result of concerted government, private and civil efforts as well as the positive response by the local community to questionnaires and surveys conducted by international experts and specialists. He pointed out that the National Competitiveness Committee and the National Competitiveness Office are striving to ensure that the Sultanate of Oman's international competitiveness indicators are in optimal condition over the next two years for two important considerations: the improvement of the domestic environment; and the existence of a clear vision and objectives. He explained that the Sultanate of Oman is currently striving to improve a number of indices including the Innovation Index, the Environmental Performance Index, the Business Readiness Index and the Future of Growth Index. He added that there are several gains to be reaped by improving the Sultanate of Oman's performance in international indices, most importantly providing international institutions with a road map for decision-makers and policymakers to address the issues targeted by these indices and achieve positive reputation which is important for investors, businessmen, specialists and researchers. — ONA PIONTERS In 2024, Oman advanced 20 places in the Corruption Perceptions Index ranking 50th globally out of 180 countries Advanced more than 90 places in the Environmental Performance Index, ranking 55th globally Advanced four places ranking 50th in the Network Readiness Index which measured the digital readiness of 133 countries Oman's score in the Index of Economic Freedom in 2025 rose from 62.9 to 65.4 out of 100, classifying its economy as fairly free. The country's score in the Global Governance Indicators and Rule of Law Index rose to 70.2 out of 100
