MITI to address Malaysia's drop in World Competitiveness Rankings

The Ministry of Investment, Trade and Industry (MITI) will offer a detailed explanation regarding Malaysia’s decline in the latest World Competitiveness Ranking issued by the International Institute for Management Development (IMD), later this evening.

Its minister Tengku Datuk Seri Zafrul Abdul Aziz said the ministry received the report and is now reviewing it to understand global trade issues better.

“I will discuss it with the team and all relevant parties, and I will provide a detailed explanation on the matter this evening,” he said, reported Bernama.

Malaysia’s position in the IMD’s World Competitiveness Ranking 2024 has dropped seven places to 34th out of 67 countries, compared to 27th place last year.

In the Asia-Pacific region, Malaysia also fell four spots to 10th out of 14 countries.

Today, Muda issued a statement urging the government to quickly explain the country’s drop in ranking.