Singapore and Malaysia have maintained their positions in the top 15 of the world competitiveness rankings, according to the World Competitiveness Yearbook (WCY) published by the Swiss International Institute for Management Development (IMD).

Studying a total of 61 countries worldwide, the rankings were based on four criteria, comprising of economic performance, government efficiency, business efficiency and infrastructure.

Malaysian Minister of International Trade and Industry, Mustapa Mohamed, said that being in the top 15 reflects the economy’s resilience and competitiveness, adding that of the four criteria, Malaysia recorded the biggest improvement in its economic performance.

Although Malaysia slipped by two places to 14th, the country has improved its competitiveness points to 84.11 from 82.09 in 2014.

Meanwhile, Singapore claimed the impressive third position with 94.95 points, following the US (100 points) and Hong Kong (China) (96.04 points).

The country was leapfrogged in the list by Hong Kong.

European countries present in the top 15 included Switzerland (91.92 points), Luxembourg (89.41 points), Norway (87.92 points), Denmark (87.08 points), Sweden (85.92 points) and Germany (85.64 points).-VNA