The decline in Malaysia’s ranking in the 2022 IMD World Competitiveness Ranking (WCR) is primarily attributed to the delay in reopening international borders, according to International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Malaysia, which fully reopened on April 1, 2022, took a cautious approach compared to faster-reopening countries, resulting in a drop from 25th to 32nd place. Factors affecting the ranking also include perceptions of restrictive regulations. The ministry is working on proposals to improve the investment ecosystem and enhance investor confidence, focusing on quality investments in growth sectors like electric vehicles and green technology.