KUALA LUMPUR, July 14 (Bernama) -- Malaysia has been ranked the eighth mostefficient government globally in the Global Competitive Report 2014-2015. The latest report, published by the World Economic Forum (WEF) on itswebsite, puts Malaysia ahead of Switzerland and Luxembourg, which are placedninth and 10th, respectively.
The report ranked the Qatari government as the most efficient, followed bySingapore in second place and Finland in third. Other governments that made it to the top 10 are Hong Kong (fourth); theUnited Arab Emirates (fifth); New Zealand (sixth) and Rwanda (seventh).
The WEF evaluates the efficiency and competitiveness landscape of 144 of theworld's governments based on, among others, the wastefulness of governmentspending, burden of regulation and transparency of policy-making, to produce anoverall global ranking. -- MORE WEF-MALAYSIA 2 (LAST) KUALA LUMPUR
"The efficiency of government has a significant bearing on a country’scompetitiveness and economic growth. "Excessive bureaucracy and regulation, a lack of transparency, andinadequate legal frameworks all impose additional costs on business and impedeexpansion," the report said. The report ranked Venezuela as the least efficient government globally,below Italy, Argentina, Lebanon, Libya and Croatia. The other countries ranked in the top 10 least efficient governments areAngola (seventh lease efficient), Chad (eighth), Mauritania (ninth) and Serbia(10th). -- BERNAMA VMP MS MGN14/07/2015 11-30ST-source