Kuwait moves to 54th rank in Global Competitiveness Index

KUWAIT, Kuwait has advanced to the 54th position in the annual report of the 2018 Global Competitiveness Index, published by the World Economic Forum (WEF), the Finance Ministry said on Wednesday.

The report, which placed Kuwait in the first rank in macroeconomic stability, reflected the Gulf country’s improved place in 47 out of 90 indexes in different sectors, the ministry said in a release.

It showed Kuwait’s improvement in the indexes of judicial independence, press freedom, reduction of burdens of government regulations that negatively affect economic competitiveness, it added.

The report also indicated improved services in transportation, road quality, air transport infrastructure, labor, wage and production, according to the statement.

Kuwait’s advanced rank also included the pillars of institutions, such as the reduction of the burdens of government regulation, protection of intellectual property and legal environment efficiency, it said.

Also involved are staff training, vocational training quality, education output skills and digital technology skills, it indicated.

The WEF Global Competitiveness Index report is a key index to gauge service improvement in various sectors. It is the 14th time for Kuwait to be included in the report which measures the competitiveness of 140 countries.

Source: Kuwait News Agency