Malaysia has been ranked the eighth most efficient government globally in the Global Competitive Report 2014-2015.

The latest report, published by the World Economic Forum (WEF) on its website, puts Malaysia ahead of Switzerland and Luxembourg, which are placed ninth and 10th, respectively.

The report ranked the Qatari government as the most efficient, followed by Singapore in second place and Finland in third.

Other governments that made it to the top 10 are Hong Kong (fourth); the United Arab Emirates (fifth); New Zealand (sixth) and Rwanda (seventh).  

The WEF evaluates the efficiency and competitiveness landscape of 144 of the world’s governments based on, among others, the wastefulness of government spending, burden of regulation and transparency of policy-making, to produce an overall global ranking.

“The efficiency of government has a significant bearing on a country’s competitiveness and economic growth.

“Excessive bureaucracy and regulation, a lack of transparency, and inadequate legal frameworks all impose additional costs on business and impede expansion,” 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 are Angola (seventh lease efficient), Chad (eighth), Mauritania (ninth) and Serbia (10th).

- Bernama