Why is Malaysia forming a task force for IMD competitiveness?

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Malaysia Forms Task Force to Boost Global Competitiveness Ranking

Malaysia is establishing a dedicated task force to address its recent decline in the International Institute for Management Development’s (IMD) World Competitiveness Ranking and aims to significantly improve the nation's standing. The initiative stems from Malaysia's drop to 34th out of 67 countries in the latest ranking, a seven-spot decrease that has prompted a concerted governmental effort. The task force's ultimate goal is to propel Malaysia into the top 12 globally by the year 2033.
Collaborative Leadership to Drive Improvement

The task force will be jointly led by Investment, Trade, and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz and Finance Minister II Datuk Seri Amir Hamzah Azizan. This co-chairmanship signifies a high-level commitment to improving the nation's competitiveness. The ministers will spearhead efforts to identify and implement strategies that address the identified weaknesses.
Addressing Areas for Enhancement

The government acknowledges that improvements are necessary across various sectors, some of which fall within its direct purview and others that require broader societal engagement. This understanding underscores the need for a comprehensive, whole-of-government approach. Each ministry is expected to contribute actively to enhancing Malaysia's performance in the competitiveness metrics.
Strategic Planning and Cabinet Submission

Following thorough discussions with relevant agencies, the task force is mandated to develop and present detailed plans to the Cabinet. These plans will outline the specific actions and strategies intended to elevate Malaysia's global competitiveness. The aim is to create a cohesive and actionable roadmap for achieving the ambitious target of a top 12 ranking by 2033.

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Why is Malaysia forming a task force for IMD competitiveness?

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