Monday, November 05, 2007

Vietnam ranks 68th in global competitiveness

Vietnam’s global competitiveness dropped four levels in the Global Competitiveness Report 2007-2008 which examined the economic climate in 131 countries, said the World Economic World on October 31.

According to the report, the main reason for the drop is that three out of eight countries added to the list took over Vietnam.

The United States tops the overall ranking in the Global Competitiveness Report 2007-2008. Switzerland is in second position followed by Denmark, Sweden, Germany, Finland and Singapore, respectively.

Global competitiveness is based on factors such as institutions, infrastructure, macroeconomic stability, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial markets sophistication technological readiness, market size, business sophistication, and innovation.

The Global Competitiveness Report includes the World Economic Forum’s Global Competitiveness Index, developed by Professor Xavier Sala-i-Martin, at Columbia University; the Business Competitiveness Index, developed by Professor Michael E. Porter, Director of the Institute for Strategy and Competitiveness at Harvard Business School as well as detailed profiles on each of the 131 economies covered and data displaying the relative rankings for more than 100 variables.