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Productivity

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Malaysia's Competitiveness: A Journey Towards Excellence

Overview

The IMD World Competitiveness Ranking (WCR) 2024 showcases Malaysia’s progress and opportunities in global competitiveness. This initiative, led by MPC, evaluates 67 economies on four critical factors, providing insights and recommendations to enhance Malaysia’s productivity, attract investments, and drive sustainable growth.

Key Rankings

34th

Malaysia's overall ranking in 2024

10th

Ranked in Asia-Pacific (6th in 2023)

4th

in ASEAN region, following Singapore, Thailand and Indonesia

HIGHLIGHTS

Achievements and Strengths

Top 10 in Tax Policy

Efficient and transparent tax implementation

Affordable Business Costs

Office Rentals: Ranked 4th

Electricity Costs for Industries: Ranked 15th

Strong Employment Performance

Ranked 18th globally (+3 from 2023)

Increased Tourism Revenue

Jumped from 63rd to 40th (+23 ranks)

Challenges Identified

We’ve made progress, but there’s room to improve

  • Decline in Domestic Economy

    We slipped to 35th (-19 from 2023). Strengthening resilience is key

  • Digital Transformation

    At 48th (-15 from 2023), it’s clear we need to embrace technology faster

  • Broadband Subscribers

    Ranked 54th, showing gaps in connectivity that need urgent attention

  • Female Workforce Participation

    At 57th, it’s time to prioritise gender inclusivity in our economy

Who's Involved in Driving Competitiveness Worldwide?

The World Competitiveness Ranking measures how economies excel, and Malaysia is pushing to rise higher and create lasting impact

Governments

Crafting policies that boost productivity and attract investments

Businesses

Adopting global standards, driving innovation, and creating jobs

Think Tanks & Institutions

Providing research, analysis, and insights to shape strategies

That's not all...

International Organisations

Like the IMD, benchmarking economies to track progress

Academics & Experts

Offering recommendations to close gaps and seize opportunities

Communities

Contributing to sustainable growth through local initiatives

Opportunity for Growths

Strengthen Food Security

Boost technology use in agriculture to lower costs and ensure sustainability

Promote Female Workforce Participation

Introduce subsidies for childcare and encourage women in STEM fields

Accelerate Digital Adoption

Provide incentives for businesses adopting advanced technologies and expanding broadband access

Reform Business Legislation

Simplify tariffs and reduce protectionism to create a more competitive business environment

WCR Report 2024

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Testimonials

What stakeholders are saying

FAQS

Your go-to resource for quick, clear explanations on key topics and common queries.

Understanding the Initiative

  • What is the World Competitiveness Ranking Initiative?

    The initiative focuses on enhancing Malaysia's global competitiveness by addressing productivity gaps, fostering innovation, and aligning industries with international standards.

  • Why is this initiative important?

    It helps Malaysian businesses compete globally, attracts foreign investments, and supports sustainable economic growth.

  • Who is involved in this initiative?

    MPC works with government agencies, industry leaders, and international experts to drive impactful reforms.

Industry Benefits and Participation

  • How does this initiative benefit industries?

    It equips industries with data-driven strategies and practical reforms to achieve global benchmarks and improve productivity.

  • What progress has been made so far?

    Malaysia has climbed in global competitiveness rankings, with industries reporting significant benefits from MPC's efforts.

  • How can my organisation participate?

    Reach out to MPC via our website or visit a local MPC office to learn how your organisation can join this transformative journey.

Get Updated

We document the progress for you. Read more below.

Get Involved

Join the movement to elevate Malaysia's global competitiveness. Collaborate with MPC to shape impactful policies, drive productivity, and strengthen our nation's standing. Contact us today to learn more.

Shanthini Tamadoram

Assistant Manager