Pakistan slips three spots to 110th on global competitiveness index – Business

Pakistan fell three points in the Global Competitiveness Index 4.0 published by the World Economic Forum (WEF), which ranks 110th out of 141 countries.

The Forum, organizers of the dazzling annual meeting of the business and political elite in Davos, published on Tuesday the Global Competitiveness Report, an annual competitiveness report since 1979, which assesses which economies are well positioned to see productivity and growth at long term.

In 2018, Pakistan ranked 107 out of 140 countries.

With a general rating of 110, Pakistan was at 107 for the institutions; 105 for infrastructure; 131 for the adoption of ICT; 116 for macroeconomic stability; 115 for health; 125 for skills; 126 for the product market; 120 for the labor market; 99 for the financial system; 29 for market size; 52 for business dynamism; and 79 for innovation capacity.

According to a press release issued by Mishal Pakistan, the partner country institute of the Future of Progress of the Economic System Initiative, WEF, the report has adopted a new methodology to measure competitiveness 4.0 by including indexes that represent more knowledge and ecosystem based In digital data.

The Global Competitiveness Index (GCI) 4.0 provides a detailed map of the factors and attributes that
Boosting productivity, growth and human development in the era of the Fourth Industrial Revolution, the press release reads.

"Pakistan needs to close the digital divide between citizen demand for governance and the government's ability to provide services through digital platforms and electronic governance," said Amir Jahangir, CEO of Mishal Pakistan.

"The public policy agenda should have the adoption of ICTs as one of the key drivers for transforming the economy to succeed in the fourth ear of the industrial revolution," he added.

The press release added that in South Asia, India ranked 68, Sri Lanka ranked 84, the most improved country in the region, Bangladesh ranked 105, and Nepal ranked 108.

The United States fell to second place behind Singapore in the report, with the slide linked in part to the commercial wars of President Donald Trump.