Weak ringgit and subsidy implementation blamed for decline in world competitiveness ranking

Prime Minister Datuk Seri Anwar Ibrahim delivering his opening remarks during the Asia ESG Positive Impact Consortium launch in Kuala Lumpur, June 20, 2024. — GLENN GUAN/The Star

KUALA LUMPUR: Among the reasons that caused Malaysia’s decline in the International Institute for Management Development (IMD) World Competitiveness Ranking 2024 was the weak ringgit and the failure to implement targeted subsidies, says Datuk Seri Anwar Ibrahim.

The Prime Minister said the IMD’s World Competitiveness Ranking 2024 had considered Malaysia’s performance last year.