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Monday, September 13, 2010 - 05.41 GMT |
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Sri Lanka moves
up in Global Competitiveness Report
2010-2011 |
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The World Economic Forum has upgraded Sri Lanka’s global competitiveness ranking from 79th to 62nd place among 139 nations for the year 2010-2011. Sri Lanka is second only to India in the South Asian region in this regard.
"As a result of this healthy growth, Sri Lanka’s GDP is rising and the country is now transitioning from the factor-driven to the efficiency-driven stage in the Global Competitiveness Index framework", the World Economic Forum stated.
The World Economic Forum defines competitiveness as the set of institutions, policies, and factors that determine the level of productivity of a country.
Speaking with regard to the Sri Lanka's public institutions, the World Economic Forum said, "Sri Lanka achieves higher scores this year in every measure of the public institutions category, improving its position from 73rd to 55th in the institutions pillar. Among other things, the perceived level of security is increasing (106th).
The other areas of improvement include health and primary education (35th, up 12) and financial markets (52nd, up 13). Sri Lanka also continues to benefit from impressive business sophistication (39th) and innovation (40th), particularly for a country at its stage of development, it further stated.
Lower in the rankings, Mongolia moves up to 99th place, while Bangladesh and Cambodia remain quite stable at 107th and 109th, respectively. Pakistan falls to 123rd place, weakening across most areas measured by the GCI.
Since 2005, the World Economic Forum has based its competitiveness analysis on the Global Competitiveness Index (GCI), a highly comprehensive index for measuring national competitiveness, which captures the microeconomic and macroeconomic foundations of national competitiveness.
Full report is found at:
http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf
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