A few days ago, the World Economic Forum (WEF) have issued a report on Global competitiveness for year 2006

• WEF has always been providing reports on the competitiveness of economies in the world for the past 27 years. For this year, it has collected opinions from 11,000 business leaders from 125 economies worldwide to make this report.

• The global competition index (GCI) is built on nine components: institution, infrastructure, macro economic environment, quality of education and health care, higher education, market effect, the readiness of technology, the satisfaction of businesses and creativeness.

Vietnam:
Vietnam ranks 77th, a drop of three places compared to last year, in a report on global competitiveness in 2006 of the World Economic Forum (WEF), which was released Tuesday.
Vietnam ranks 74th for institution, 83rd for infrastructure, 53rd for macro economics, 56th for health and general education, 90th for higher education, 73rd for market effect, 85th for the readiness of technology, 86th for the satisfaction of businesses and 75th for creativeness.
Amongst ASEAN Countries ( Association of Southeast Asian Nations)

• Vietnam ranks above Cambodia (103^rd) only.
• Singapore takes the lead, followed by Malaysia (26^th), Thailand (35^th), Indonesia (50^th) and the Philippines (71^st).
• Brunei, Laos and Myanmar are not included in this report.

Amongst The Asian Countries:

• Top ranking countries are Singapore and Japan.
• Singapore maintains the 5^th position from last year while Japan jumps five places to the 7^th this year.
• China drops six places, from 48^th last year to 54^th due to the loss of trust by its people in the institution and the banking sector being controlled by the State.
• India climbed  from 45^th to 43^rd due to its progress in invention and corporate administration.

The Top Ten Positions/Rankings are as follows:

    
• Switzerland, Finland and Sweden –Top three and
• Denmark, Singapore, the US, Japan, Germany, the Netherlands and the UK round out the balance.
• Notably, the US, which was second in 2005, fell six places this year. The major reason, according to WEF, is the imbalance of the US economy, particularly the increase of public debts and budget deficit.

Others:
The country with the poorest global competitiveness index is Angola, ranking 125^th. This is the first year Angola is named in WEF’s rankings.
(Source:VietBridgeNet.com (27/9/06)
 

If you found this post useful, keep updated with future posts by subscribing to FMAccounting (for free) through RSS or email.

Related Entries

• Singapore Cuts Corporate Tax And Increase GST to 7%
• AmInvestment Launched Property Fund To Invest In Properties & REIT
• International World Class MSC Malaysia Status Companies
• MAAKL Mutual To Launch Its First REIT Fund
• Singapore Brewer Takes-over Foster’s Vietnam assets