Malaysia’s position in the IMD World Competitiveness ranking 2025 will improve – Tengku Zafrul

Malaysia’s position in the IMD World Competitiveness ranking 2025 will improve – Tengku Zafrul

KUALA LUMPUR: The government is confident that Malaysia’s position in the IMD World Competitiveness Ranking 2025 will improve compared to 2024, driven by, among other things, increased exports of high-tech products.

Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the decline in the country’s high-tech exports, which affected Malaysia’s position in the list, was a short-term situation, and the score was expected to increase for the 2025 ranking.

“All these investments will begin to have an impact in the next 12 to 18 months and will raise our position again,” he said in a post on social media.

Tengku Zafrul said the decline experienced for the 2024 ranking following the decline in communications electronics exports was due to the decline in global demand and increased global competition.

For example, China’s high-tech exports in the 10 months of 2023 fell 11.4 percent year-on-year to US$728.2 billion compared to the same period the previous year, while South Korea fell 28 percent to US$110 billion, and Japan declined 10 percent to US$76.9 billion.

In the meantime, he said the projected annual global semiconductor sales increase of 16 percent in 2024 and 12.5 percent in 2025 will benefit Malaysia as the world’s sixth-largest semiconductor exporter.

“When the demand for semiconductors increases, then automatically the country’s high-tech exports will also increase,” he explained.

Tengku Zafrul added that stable economic growth, unemployment rates that continue to decrease, and controlled inflation will improve Malaysia’s position in the future.

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