"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," the president remarked here on Monday.
Jokowi made this statement while delivering directives in the plenary cabinet session related to the latest economic development at the Presidential Palace here on Monday.
Based on the World Competitiveness Ranking (WCR) 2024 by the Institute for Management Development (IMD), Indonesia's competitiveness ranking surpasses the United Kingdom at 28th, Malaysia at 34th, Japan at 38th, the Philippines at 52nd, and Turkey at 53rd.
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.
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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.
"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 remarked.
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Translator: Yashinta P, Kenzu
Editor: Yuni Arisandy Sinaga
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