by Lee Shi-Ian
The Malaysian Insider
17 October 2014
Malaysia are 19 years behind South Korea in terms of productivity, the Malaysian International Chamber of Commerce and Industry said today, naming graft, leakages, complacency and archaic labour laws as road blocks.
Its executive director Stewart Forbes said Malaysia’s Gross Domestic Product (GDP) per worker productivity last year was equivalent to South Korea’s – but in 1995.
“Malaysia’s historic productivity growth was unimpressive although at one time, Malaysia, South Korea and Taiwan all started out on the same level playing field.
“Putrajaya is always quick to point out that Malaysia is better than Thailand or Vietnam or Indonesia. But why is Malaysia choosing the worst to make comparisons?
“Putrajaya ought to be comparing Malaysia to Taiwan, Singapore or South Korea. They should set the bar higher when making comparisons,” Forbes said. Continue reading “Malaysia 19 years behind South Korea, complacency, graft among culprits”