Malaysia ranked 18th by IMD World Competitiveness Yearbook 2009: last year it was 19th

(Bernama) — The IMD World Competitiveness Yearbook 2009 has ranked Malaysia in 18th spot out of 57 national economies.

The government considers this an improvement compared to last year’s ranking of 19th out of 55 economies.

The Deputy Minister of International Trade and Industry, Datuk Jacob Dungau Sagan who disclosed this today said, the outcome was a strong indicator of the state of Malaysia’s economy.

Jacob added that organisations in Malaysia must remain committed, relevant and focused in raising productivity and competitiveness.

“We also need to look for more innnovative ways to help organisations transform and address the economic challenges.In other words, we should not be afraid of making challenges when changes are needed.

“We need to urgently look into new and bold ways in formulating innovative approaches to deal with the economic recovery,” he said.

He was speaking at the prize giving ceremony of the “Productivity Photography Contest 2009”, organised by the Malaysia Productivity Corporation (MPC)and Fujifilm Malaysia Sdn Bhd, here today.

The IMD World Competitiveness Yearbook (WCY) is a renowned and comprehensive annual report on the competitiveness of countries while analysing how a nation’s environment creates and sustains the competitiveness of enterprises.