Malaysia is still doing well in the context of the world competitiveness index, and ranked high at 74.6 points out of 100 in 2020, well above Indonesia, Thailand, Vietnam and the Philippines, theSun theSundaily business Malaysia economy news
Malaysia is still doing well in the context of the world competitiveness index, and ranked high at 74.6 points out of 100 in 2020, well above Indonesia, Thailand, Vietnam and the Philippines, said Universiti Utara Malaysia economics professor Dr K. Kuperan Viswanathan.
“In terms of economic size, Vietnam, Indonesia, the Philippines and Thailand will overtake Malaysia as these are much larger countries when it comes to population and land mass,” Kuperan said. Kuperan said Malaysia is not far behind its neighbouring countries but has been losing ground over time as the cost of production increases and institutional problems become greater.
Kuperan said policies should focus on attracting investments in the food production, IT and green environment sectors. Sunway University economist Prof Dr Yeah Kim Leng said with populations larger by over three times, it is not surprising to find the size of the Philippine and Vietnamese economies overtaking Malaysia.
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