Latest news with #IMDWorldCompetitivenessRanking2025
New Straits Times
a day ago
- Business
- New Straits Times
Malaysia no longer just competing but leading: Industry chief
KUALA LUMPUR: Malaysia's rise in the IMD World Competitiveness Ranking 2025 reflects the tangible outcomes of strategic and productivity-driven reforms, with the pharmaceutical sector emerging as a standout contributor to the success. Pharmaceutical Productivity Nexus (PPN) champion and Malaysian Organisation of Pharmaceutical Industries president Ch'ng Kien Peng said Malaysia is no longer just competing but leading. Ch'ng said the pharmaceutical sector's gains reflect what is possible when productivity reforms are targeted, data-driven and collaborative. "These wins go beyond industry metrics; they mean better access to affordable medicines, more quality jobs for Malaysians, and increased resilience in our healthcare supply chain," he said in a statement. Under Malaysia Productivity Corporation (MPC), the PPN has driven structural changes that translate directly into economic value. These include streamlining product registration processes, aligning technical requirements across agencies and reducing regulatory bottlenecks. As a result, the corporation said two new pharmaceutical facilities have successfully moved to development, unlocking millions in investment and new job opportunities. "Two additional facilities are progressing more rapidly, thanks to reduced duplication and stronger agency coordination. "Approval timelines have been shortened, giving Malaysian firms a competitive edge in time-to-market," it said. MPC director general Datuk Zahid Ismail said the sector's transformation offers a blueprint for national economic renewal. "Every bottleneck removed is an opportunity unlocked whether it's faster factory approvals, increased export readiness, or local production of critical medicines. "This is productivity with purpose, and its effects are measurable," said Zahid. To sustain and scale these results, MPC urged the industry to continue investing in automation, digitalisation and skills development. In addition, the government should accelerate mutual recognition agreements, innovation incentives and seamless inter-agency frameworks, it said.
Malaysian Reserve
22-06-2025
- Business
- Malaysian Reserve
FMM: Malaysia rises in IMD ranking, but reforms must continue
MALAYSIA'S notable rise in the IMD World Competitiveness Ranking 2025 — climbing 11 spots to 23rd out of 69 economies — should be used as a catalyst for deeper reform, according to the Federation of Malaysian Manufacturers (FMM) FMM president Tan Sri Soh Thian Lai said that while the ranking is encouraging, it should not be seen as an end goal. He added that Malaysia needs to shift from an input-driven growth model — dependent on labour, capital, and natural resources — to one centred on productivity and innovation to sustain long-term competitiveness. 'This transition is not just timely but necessary to stay competitive in high-value sectors and adapt to fast-evolving global trends,' he said in a statement today. He highlighted several focus areas that require urgent attention, including a substantial increase in investment in research and development, aligned with industry needs and national priorities. 'Malaysia's start-up ecosystem holds real promise, especially in digital, green, and deep-tech sectors. 'With the right support and simplified regulations, easier access to funding, and stronger mentorship, local entrepreneurs can become powerful drivers of economic transformation,' he added. Soh also lauded the government on the improved IMD ranking, which is the best showing since 2020. 'This marks a significant turnaround from the previous year, when Malaysia ranked 34th out of 67 economies. The latest result is a strong signal that recent policy measures, institutional reforms, and efforts to restore investor confidence are delivering tangible outcomes,' he said. Malaysia now ranks fourth globally in economic performance, moving up from eighth place last year. Both government efficiency and business efficiency also improved by eight positions. — BERNAMA
New Straits Times
22-06-2025
- Business
- New Straits Times
Malaysia's IMD ranking rise a stepping stone for more reforms: FMM
KUALA LUMPUR: Malaysia's rise in the IMD World Competitiveness Ranking 2025 is a stepping stone toward more comprehensive reforms, Federation of Malaysian Manufacturers (FMM) said. FMM president Tan Sri Soh Thian Lai said the improvement by 11 places to 23rd out of 69 economies in the IMD ranking signals progress in several important areas. However, he highlighted that Malaysia remains 10th out of 14 Asia Pacific countries, lagging behind regional peers such as Indonesia and Thailand, indicating that more work is needed to narrow the gap. "While the ranking is encouraging, it should not be seen as an end goal. It must serve as a platform for deeper reform," Soh said in a statement. He said maintaining the momentum requires Malaysia to move beyond its traditional input-driven growth model, one dependent on labour, capital and natural resources, and to embrace a growth strategy centred on productivity and innovation. This shift is not only timely but crucial for ensuring Malaysia stays competitive in high-value sectors and adapts effectively to the fast-changing global landscape. "We believe a few focus areas require urgent attention. Firstly, investment in research and development must be scaled up significantly. "But beyond funding, it is critical to ensure that research is aligned with industry needs and national priorities. Strengthening the links between academia and industry will ensure that ideas are commercialised and translated into meaningful outcomes," Soh said. He noted that Malaysia's start-up ecosystem shows strong potential, particularly in the digital, green, and deep-tech industries. With appropriate support such as streamlined regulations, improved funding access and enhanced mentorship, local entrepreneurs could play a significant role in driving economic transformation. Soh said this year's improvement is a positive move towards achieving the national goal outlined in the Madani Economic Framework, to rank Malaysia among the world's top 12 most competitive economies by 2033. "Achieving this goal will require sustained commitment to structural reforms, policy consistency and bold execution across all levels of government and industry. "We applaud the government for this notable achievement. But to truly position Malaysia as a future-ready economy, we must stay focused on raising productivity, deepening innovation, and building long-term competitiveness," he added.
The Sun
19-06-2025
- Business
- The Sun
Govt reform agenda progressing consistently, not mere rhetoric
KUALA LUMPUR: Claims that the reformasi agenda is not progressing are unfounded, as it is moving forward consistently. Senior press secretary to the Prime Minister, Tunku Nashrul Abaidah, said the reformasi agenda is not something to be implemented overnight or merely expressed in statements, but rather is being executed through structured actions. 'Since the start of the Prime Minister's (Datuk Seri Anwar Ibrahim) administration, he has emphasised that the MADANI Government will always listen and stay open to constructive criticism. 'This stance is reflected in action. Every criticism is viewed as an opportunity for improvement. Today's successes mirror that approach,' he said. Tunku Nashrul said this during the Prime Minister's Office (PMO) daily briefing, broadcast live on both Anwar Ibrahim's and the PMO Malaysia's Facebook pages today. Tunku Nashrul said that, as outlined by the Prime Minister through the MADANI Economy Framework, the main goal is to elevate the nation's economic potential, enhance its capacity, and ensure the well-being of its citizens. He added that Malaysia's rise of 11 places to the 23rd rank in the IMD World Competitiveness Ranking 2025, up from 34th place last year, is due to the MADANI Government's sustained commitment and comprehensive implementation via a whole-of-government and whole-of-nation approach. He said this is the country's best performance since 2020, proving that economic and bureaucratic reforms are yielding results and that the MADANI Economy Framework is keeping the country's economy on the right track. 'This achievement also reflects the collective efforts to strengthen fiscal policy, simplify business processes, and accelerate public service delivery reforms, including over 1,000 initiatives under the Bureaucratic Red Tape Reform (RKB). 'For example, the national bureaucracy perception index has jumped 22 positions, a clear signal that reforms are delivering real results, not just at the national level but also with international recognition,' he said.
The Star
19-06-2025
- Business
- The Star
Govt reform agenda progressing consistently, not mere rhetoric, says PMO
KUALA LUMPUR: Claims that the "reformasi" agenda is not progressing are unfounded, as it is moving forward consistently, says Tunku Nashrul Abaidah. The senior press secretary to the Prime Minister said the reformasi agenda is not something to be implemented overnight or merely expressed in statements, but rather is being executed through structured actions. "Since the start of the Prime Minister's (Datuk Seri Anwar Ibrahim) administration, he has emphasised that the Madani government will always listen and stay open to constructive criticism. "This stance is reflected in action. Every criticism is viewed as an opportunity for improvement. Today's successes mirror that approach," he said. Tunku Nashrul said this during the Prime Minister's Office (PMO) daily briefing, broadcast live on both Anwar Ibrahim's and the PMO Malaysia's Facebook pages Thursday (June 19). Tunku Nashrul said that, as outlined by the Prime Minister through the Madani Economy Framework, the main goal is to elevate the nation's economic potential, enhance its capacity, and ensure the well-being of its citizens. He added that Malaysia's rise of 11 places to the 23rd rank in the IMD World Competitiveness Ranking 2025, up from 34th place last year, is due to the Madani government's sustained commitment and comprehensive implementation via a whole-of-government and whole-of-nation approach. He said this is the country's best performance since 2020, proving that economic and bureaucratic reforms are yielding results and that the Madani Economy Framework is keeping the country's economy on the right track. "This achievement also reflects the collective efforts to strengthen fiscal policy, simplify business processes, and accelerate public service delivery reforms, including over 1,000 initiatives under the Bureaucratic Red Tape Reform (RKB). "For example, the national bureaucracy perception index has jumped 22 positions, a clear signal that reforms are delivering real results, not just at the national level but also with international recognition," he said. - Bernama
