ISLAMABAD – Pakistan slipped by three spots on the Global CompetitivenessIndex 4.0 released by the World Economic Forum (WEF), ranking 110 out of141 countries.
The Forum, organisers of the glitzy annual gathering of business andpolitical elite in Davos, on Tuesday released the Global CompetitivenessReport, an annual competitiveness report since 1979, that assesses whicheconomies are well placed to see productivity and long-term growth.
In 2018, Pakistan ranked 107 out of 140 countries.
With an overall ranking of 110, Pakistan was at 107 for institutions; 105for infrastructure; 131 for ICT adoption; 116 for macroeconomic stability;115 for health; 125 for skills; 126 for product market; 120 for labourmarket; 89 for financial system; 29 for market size; 52 for businessdynamism; and 79 for innovation capacity.
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According to a press release issued by Mishal Pakistan, the country partnerinstitute of the Future of Economic Progress System Initiative, WEF, thereport has adopted a new methodology for measuring competitiveness 4.0 byincluding indices which represent more knowledge and digital-basedecosystems.
The Global Competitiveness Index (GCI) 4.0 provides a detailed map of thefactors and attributes that drive productivity, growth and humandevelopment in the era of the Fourth Industrial Revolution, reads the pressrelease. – APP / AFP
