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What is "Competitiveness"
Competitiveness is a comparative concept of the ability and performance of a firm, sub-sector or country to sell and supply goods and/or services in a given market. It is also a range of factors from measures of income and prosperity to economic creativity and innovative ability that describe the performance of one economy relative to others.
Various Definitions on Competitiveness
Organisation for Economic Cooperation
and Development (OECD)
"The degree to which the nation can, under free trade and fair market conditions, produce goods and services, which meet the test of international markets, while simultaneously maintaining and expanding the real incomes of its people over the long term. "
International Institute for
Management Development (IMD)
"Competitiveness of nations is a field of Economic analyses the facts and policies that shape the ability of a nation to knowledge, which create and maintain an environment that sustains more value creation for its enterprises and more prosperity for its people. "
World Economic Forum (WEF)
"Competitiveness is defined as the collection of factors, policies and institutions which determine the level of productivity of a country and that, therefore, determine the level of prosperity that can be attained by an economy."
Malaysia Productivity Corporation (MPC)
"The degree to which the region (nation) can produce goods and services which meet the test of international markets, out-performing other, while its citizens earn a standard of living that is both rising and sustainable over the long-run. "
text abstracted from (MPC)
Malaysia Productivity Corporation
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Media Statement from Dato’ Sri Mustapa Mohamed
Minister of International Trade and Industry
Malaysia enters list of top 10 most competitive countries in the world.
For the first time, Malaysia has earned a position among the 10 most competitive countries in the world, according to the 2010 World Competitiveness Yearbook (WCY), published today by the Swiss-based Institute for Management Development (IMD).
Malaysia has steadily improved its rating since we were first included in IMD’s well-respected World Competitiveness Yearbook in 1999. We achieved especially impressive gains in our competitiveness ranking this year, moving up eight positions to break into the top ten.
With an index score of 87.228, Malaysia has joined the ranks of the most competitive countries in the world, sharing the top 10 ranking with Singapore, Hong Kong, the United States, Switzerland, Australia, Sweden, Canada, Taiwan and Norway.
This unprecedented result is clearly rooted in the innovative and bold initiatives the government has undertaken this past year to drive development and economic growth and create a resilient private sector, despite the recent slowdown of the global economy. This is a result that demonstrates how public/private collaboration works and serves as a foundation for strong, stable and inclusive growth.
The remarkable advancement in our Government Efficiency rating, where Malaysia moved up 10 positions from 2009, from 19th to 9th, demonstrates that our Government Transformation Program (GTP) is beginning to deliver results. The GTP, launched last year, has focused government efforts in key areas, such as enhancing the business climate, fighting corruption, improving the infrastructure, streamlining government procedures and strengthening our education system.
While the government has implemented the right policies to improve competitiveness, Malaysian entrepreneurs have played a vital role in leveraging this business climate to create change and drive growth. This Yearbook is a testament to their efforts showing a Business Efficiency rating that increased by nine positions to a ranking of 4th from 13th.
In both the Government and Business Efficiency ratings, Malaysia’s performance is now ahead of developed countries such as Luxembourg, Switzerland, Canada, Denmark and Sweden.
This is a result that everybody in Malaysia should be very proud of.
As the Prime Minister highlighted in the announcement of the New Economic Model, it is this ‘new way of doing things’ that is driving Malaysia to our ambitious goal of becoming a fully developed nation by 2020. Improving our physical and soft infrastructure is the foundation of our strong performance. We will continue to seek inputs from the private sector to create synergies and strong partnerships with all Malaysian businesses, ranging from GLCs to SMEs.
The marked improvement in rankings is a result of the implementation of the economic dimension of the 1Malaysia concept, where ‘People First, Performance Now’ means working together to demonstrate the growing confidence that the global markets are giving to Malaysia.
We recognize that there are still areas where more work is needed: the Government has to continue to improve its service delivery system, to strengthen high quality investments, to groom SMEs for global competition and, very importantly, to keep nurturing the innovative and creative mindset of our people.
Dato’ Sri Mustapa Mohamed
Minister of International Trade and Industry
Kuala Lumpur, Malaysia
19 May 2010
Read the Malaysian Productivity Corporation (MPC) publication/press report at MPC website here, or download PDF in three languages as below:
Visit IMD (International Institute for Management Development, Switzerland) website for this Report.
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