Is Malaysian education system on par with those in developed nations?

I am confused by today's news item that quoted the Malaysian Deputy Prime Minister, Tan Sri Muhyiddin Yassin that it will take another 10 to 15 years for the country’s education system to be on par or better than that of developed nations. I recall another news report which mentioned that Malaysian children received better education than those in advanced countries based on the World Economic Forum's global competitiveness report.

Have I misinterpreted the news published or is one of them not correct? Oh, maybe developed nations and advanced countries are not the same as there was no mention of which developed nations we were comparing ourselves to and the example of advanced countries were the United States, Britain and Germany.

I would like to believe that the World Economic Forum's global competitiveness report is correct which ranked Malaysia 14th among 142 countries in quality of education and second in the ASEAN region. The high ranking would mean we are already on par with the advanced nations or even better than some of them. The other nations are the ones that need another 10 to 15 years to catch up with us, right?

Image from justlanded