Staying ahead of competition

  • Nation
  • Thursday, 25 Oct 2012

KUALA LUMPUR: Malaysia must tap into the innate entrepreneurial spirit of her people to innovate and stay ahead of the global competition, said the Deputy Prime Minister.

Tan Sri Muhyiddin Yassin said this was necessary in order to meet the challenges of ensuring sustainable growth amidst a highly competitive environment.

“We have to re-invent and continue to re-energise to enjoy further growth,” he said at the 21st Industry Excellence Awards at the KL Convention Centre yesterday.

Competitiveness, he said, was difficult to acquire and even more difficult to maintain.

“The market place is a brutal one. You have to work hard to be competitive and harder still to stay competitive,” he said.

“So staying competitive requires continuous effort. Take your foot off the pedal for a second and someone is likely to overtake you.”

Muhyiddin said this was why the Government was trying to inculcate a culture of continuous improvement in the business community through the International Trade and Industry Ministry.

He noted that according to the World Bank report released on Oct 23, Malaysia has been recognised as the 12th most competitive economy in the world for ease of doing business out of 185 economies ranked.

“We will not stop there. We aim to be among the top 10 most competitive economies in the next few years,” he said.

Meanwhile, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said 21 companies were chosen to receive the awards in several categories.

Among them, ViTrox Texhnologies Sdn Bhd was chosen to receive the Prime Minister's Award for Industry Excellence which comes with a RM500,000 cash prize.

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