Kazakhstan ranked 38th in IMD World Competitiveness Rankings 2018
63 countries of the world took part in the rankings.
The World Competitiveness Centre of the International Institute for Management Development (IMD, Lausanne, Switzerland) announced the results of the World Competitiveness Rankings 2018, a press service of the Ministry of National Economy reports.
The IMD rankings is a result of a complex survey, where such factors as economic activity, government effectiveness, business and infrastructure effectiveness are evaluated. The annual ratings include 340 indications, of which 2/3 are evaluated on statistic data, 1/3 – on a survey.
Following the results of the 2018 study, the Republic of Kazakhstan took the 38th place.
In 2018, 63 states of the world took part. In this year, the rankings is led by the USA. Hong Kong, Singapore, the Netherlands, Switzerland remain among competitive states. Among the CIS states, Kazakhstan takes a leading position, Russia –45, Ukraine –49.
Despite worsening of the position in the rankings, a positive tendency is observed in two factors. So, Kazakhstan took the 49th place in Economic Activity moving 5 positions up. This can be explained by an increase in the three sub-factors: International trade – the 56th place (6 points up), Employment – the 26th place (6 points up) and Prices - 48 (5 points up). Worsening is observed in the following sub-factors Internal Economy – the 46th place (6 positions down) and Foreign Investment – 28 (10 positions down).
In the factor of Infrastructure, improvement by 1 point is observed – from the 43rd to 42nd place. The three following sub-factors improved: Basic Infrastructure – the 24th place (8 points up), Scientific Infrastructure - the 47th place (2 points up), Education – the 29th place (6 positions up). At the same time, positions in the following subfactors remain weak, they are Technological Infrastructure – the 49th place (6 points down), Healthcare and Environment – the 56th place (3 points down).
In the factor of Government Effectiveness, the country took the 25th place. The factor remains a competitive advantage of the country despite the decrease by 6 points. Improvement is observed in the subfactor of Social Order by 2 points (28). The subfactor of Public Finances observed decrease – from the 4th to 19th place. In Business Legislation – decrease by 6 points can be observed (28), Tax Policy – decrease by 4 points (14) and Institutional Environment – decrease by 4 points (50).
In Business Effectiveness, Kazakhstan took the 34th place.
According to responders, the most attractive factors of Kazakhstan’s economy are Strategic Stability and Predictability (57.8%), Favorable Business Environment (55.6%), Economy’s Dynamism (46.7% of respondents), Favorable Taxation System (41.1%) and Effective Labour Relations (32.2%).
The Republic of Kazakhstan has started to take part in the Rankings since 2008. The IMD’s partner in Kazakhstan is JSC Economic Research Institute.
Source: BNews.kz
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