The latest IMD World Competitiveness Yearbook 2024 has placed Indonesia in 27th place, surpassing Japan and the United Kingdom, according to reporting from Antara News.

President Jokowi admitted to being pleased to learn the news, saying, “I am happy that our competitiveness (ranking) has increased significantly in 2024. This is important because our global competitiveness ranking previously jumped from 44 to 34, and then now, it jumps again to 27,” while delivering directives in the plenary cabinet session related to the latest economic development at the Presidential Palace on Monday (24/6/24.)

Based on the IMD report, Indonesia’s competitiveness ranking surpasses the United Kingdom at 28th, Malaysia at 34th, Japan at 38th, the Philippines at 52nd, and Turkey at 53rd, says Antara News, adding that in the Southeast Asian region, Indonesia has positioned itself in the WCR among the top three after Singapore and Thailand.

“We should be grateful because with this we know where we are. It is not easy to improve the ranking amid the uncertain world condition,” the president stated.

By observing the current global economic conditions, Jokowi pointed out that Japan’s competitiveness ranking plunged three places due to the weakening yen value and a decrease in stability, while Malaysia’s ranking fell seven places due to economic weakness and political stability issues.

Hence, the president underlined the importance of political stability, currency exchange rate stability, and productivity boost to support the economy, reports Antara News.

“Indonesia’s competitiveness increased because of the government, the business world, and our economy,” he remarked.

However, he drew attention to Indonesia still lagging in areas such as health and environment, at 61st position, and education at 57th rank.

“This must be (a matter of) concern (for us) so that we can continue to improve our competitiveness ranking every year,” he said.

 

Source: Antara News

Stock image by Alesia Kozik on Pexels 

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