KUALA LUMPUR (May 24): Malaysia rose two spots on the 2018 World Competitiveness ranking to 22, from 24 previously, according to annual rankings by the Switzerland-based IMD World Competitiveness Center.
The top five most competitive economies in the world remain the same as in the previous year, but their order changes. The United States returned to the first spot, followed by Hong Kong, Singapore, the Netherlands and Switzerland.
The Netherlands moves one place to 4th, swapping with Switzerland which moves down to 5th.
The remaining places in the top 10 are occupied largely by Nordic countries: Denmark, Norway and Sweden rank 6th, 8th and 9th respectively.
Meanwhile, China rose five notches to number 18.