SEREMBAN, Sept 12 — Malaysia is on track to achieve a top 12 ranking in the Global Competitiveness Index within 10 years as outlined in the Madani Economy: Empowering People framework.
Deputy Finance Minister II Steven Sim Chee Keong said despite an ailing global economy, Malaysia recorded a 4.2 per cent economic growth in 2023’s first half.
“We were ranked 32nd on the Global Competitiveness Index 2022, but this year, after six months of hard work, the unity government, civil servants, the private sector and the people managed to rise to the 27th spot on the index.
“We should be encouraged and motivated the country is on the right track as Malaysia was once among the greatest in the world in terms of competitiveness, so our target is to be in the top 12 in the world, equivalent to developing and developed countries such as China and Singapore,” he said during the Budget 2024 Roadshow in Negeri Sembilan today.
Also present was Negeri Sembilan executive councillor Datuk Seri Jalaluddin Alias.
Sim said in the past two months, apart from the Madani Economy framework, the government also launched the National Energy Transition Roadmap, which is estimated to bring business opportunities of up to RM1.58 trillion by 2050.
He said public infrastructure aspects including roads, hospitals and school facilities were raised by the state government to be highlighted by the federal government in next month’s tabling of Budget 2024.
“Starting from Budget 2023, the federal government has focused on ensuring basic facilities are in the best condition,” said Sim.
He said the government will help companies simplify their business and empower workers’ skills, thus increasing productivity.
“Employers have to make a profit and provide decent wages to employees so talent and skills are not lost to other companies, including foreign companies,” he said.
— Bernama
