Bad 'competitiveness' news

Bad 'competitiveness' news

Lausanne, Switzerland: Thailand tumbled five slots to 33rd in the International Institute for Management Development (IMD) World Competitiveness Ranking (WCR) released today.

According to the IMD, Thailand performed poorly across several key indices: economic performance, government efficiency, business efficiency and infrastructure.

The country fell 13 spots in economic performance (to 34th), nine in business efficiency (30th), 11 in government efficiency (31st) and one in infrastructure (44th).

According to the authors of the report, the kingdom struggled to revive its economic vibrancy and enhance public finance resiliency, while social inclusiveness, digital capabilities enhancement and establishing future-oriented talent management are other areas where it faces challenges.

However, the top attractions for foreign investment are its business-friendly environment, reliable infrastructure, open and positive attitude, cost competitiveness and economic dynamism.

Denmark reached the top spot for the first time in the rankings' 34-year history, thanks to its outstanding performance. Switzerland lost its global top spot and slipped to 2nd, while Singapore rebounded to 3rd (from 5th).

The top-performing Asian economies were Singapore (3rd), Hong Kong (5th), Taiwan (7th) and China (17th) with Australia ranking 19th.

Do you like the content of this article?
COMMENT

War dogs: sausages bolster the fight in eastern Ukraine

DONETSK REGION, Ukraine: On the roads leading to the front in Ukraine's war-torn east, every morning begins with a familiar scene -- soldiers filling up trucks, sipping steaming coffee and catching up between bites of fresh hot dogs.

15:45

Opec+ likely to maintain oil output levels

VIENNA: Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force.

15:45

Indonesia's Mount Semeru volcano erupts, top alert status triggered

Indonesia's Mount Semeru erupted Sunday spewing hot ash clouds a mile into the sky and sending rivers of lava down its side, prompting authorities to raise the alert status to the highest level.

15:31