Vietnam up 10 places in Global Competitiveness Index

Source: Xinhua| 2019-10-09 17:15:38|Editor: ZX
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HANOI, Oct. 9 (Xinhua) -- With a 10-notch jump, Vietnam ranked 67th out of 141 economies in the World Economic Forum's Global Competitiveness Index 2019, being the country whose score improves the most globally.

This year Singapore was the world’s most competitive economy, overtaking the United States, which fell to the second place. China's Hong Kong Special Administrative Region, the Netherlands and Switzerland rounded up the top five, Vietnam News Agency cited the newly-released annual assessment as reporting on Wednesday.

The Global Competitiveness Index 2019 mapped the competitiveness landscape of 141 economies through 103 indicators organized into 12 main drivers of productivity, or "pillars", assessing such aspects as enabling environment, human capital, markets, and innovation systems.

Vietnam scored 61.5 out of 100 points, up 3.5 points from 2018, posting the largest score improvement among 141 economies. Regarding the 12 pillars, Vietnam’s market size achieved the highest ranking of 26th with 72 points, while its skills area was placed lowest, at 93rd with 57 points.

The report showed that the Asia-Pacific was the most competitive region in the world, followed closely by Europe and North America.