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Vietnam’s global competitiveness index jumps 10 positions

Vietnam climbed ten places on the 2019 global competitiveness index to rank 67th among 141 economies, according to a report released by the World Economic Forum on October 9.

Vietnam is the country whose score improved the most globally (+3.5), with its stronger performance attributed to trade diversion due to global trade tensions, the report noted.

Vietnam, global competitiveness index, World Economic Forum,  stronger performance, Southeast Asian country

Vietnam is the country whose competitiveness score improves the most globally.

The World Economic Forum defines competitiveness as the set of institutions, policies and factors that determine the level of productivity of a country.

With a score of 84.8 (+1.3), Singapore is the world’s most competitive economy in 2019, overtaking the United States, which falls to second place.

The Southeast Asian country ranks first in terms of infrastructure, health, labour market functioning and financial system development.

The United States may have lost out to Singapore overall, but the country remains an innovation powerhouse, ranking 1st on the business dynamism pillar, 2nd on innovation capability, and 1st for finding skilled employees.

The remaining economies in the top five are Hong Kong (China), the Netherlands and Switzerland.

According to the report, Asia-Pacific is currently the most competitive region in the world, followed closely by Europe and North America.

Diversifying wood products to enhance competitiveness
(BGO) – The Department of Agriculture and Rural Development on August 8 organized a seminar on opportunities and challenges of wood processing and exporting wood products in the northern province of Bac Giang. 
 
Enhancing competitiveness for agricultural products
Exporting agricultural produce can bring in good profits, therefore, it is necessary to prioritise the domestic market, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong.
 
EVFTA to help improve Vietnam’s competitiveness
The European Union-Vietnam Free Trade Agreement (EVFTA), once taking effect, will help increase the competitiveness of Vietnam as well local enterprises and commodities, said Pham Tat Thang, a senior researcher at the Ministry of Industry and Trade’s Trade Research Institute.
 
Vietnam urged to reduce logistics costs to enhance competitiveness
The World Bank made public a report on improving Vietnam’s land transport and a strategy on sustainable development of inland waterway transport in the country at a workshop in Hanoi on March 28. 
 
Bac Giang actively deals with challenges and improves enterprise competitiveness
(BGO) – The Business Association (BA) in the northern province of Bac Giang on January 7 held the Business Coffee event in the first quarter of 2019 to provide the local businessmen with a chance of exchange. The event was attended by Duong Van Thai, Vice Chairman of the Bac  Giang provincial People’s Committee (PPC) and Chairman of the provincial BA and the association’s members. 
 

Source: NDO

Vietnam, global competitiveness index, World Economic Forum, stronger performance, Southeast Asian country
 
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