KUALA LUMPUR: The World Competitiveness Yearbook 2021 has ranked Malaysia’s global competitiveness at 25th place from out of 64 economies, an improvement from the 27th position in 2020.

       The International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said that in the World Bank’s Ease of Doing Business 2020 ranking, Malaysia held second position among 190 economies in dealing with construction permits.

       “Nevertheless, while this shows that reform initiatives are working, there is still more to be done to ensure that our regulations are agile enough to respond to changes, ” he said in his speech during the virtual launch of “Productivity Report 2021 – Boosting Productivity: Reset, Reform, Rebound”. — Bernama