KUALA LUMPUR: Malaysia is the world’s eighth most efficient government, ahead of advanced countries such as Switzerland and Luxembourg in the Global Competitive Report 2014-2015.
The latest report, published by the World Economic Forum (WEF) on its website, ranked the Qatar government as the most efficient, followed by Singapore in second place and Finland in third.
Other governments that made it to the top 10 are Hong Kong (fourth), the United Arab Emirates (fifth), New Zealand (sixth) and Rwanda (seventh).
Switzerland and Luxembourg are in the ninth and 10th place respectively.
The WEF evaluates the efficiency and competitiveness of 144 of the world's governments based on, among others, the wastefulness of government spending, burden of regulation and the transparency of policy-making for an overall global ranking.
“The efficiency of government has a significant bearing on a country’s competitiveness and economic growth.
“Excessive bureaucracy and regulation, a lack of transparency and inadequate legal frameworks all impose additional costs on business and impede expansion,” the report stated.
The report ranked Venezuela as the least efficient government globally, below Italy, Argentina, Lebanon, Libya and Croatia.
Other countries ranked in the top 10 least efficient governments include Angola (seventh), Chad (eighth), Mauritania (ninth) and Serbia which took the 10th spot. — Bernama