According to the WEF, better macro-economic performance and one-digit inflation rate in 2012, improved quality of infrastructure and energy were attributed to the higher place of Viet Nam in the report.
In addition, Viet Nam also made progress in commodity market (74th, up 17 steps) thanks to lower trade and customs barriers.
For the 12 categories, except for market size (36th), Viet Nam was placed above 57th.
The country was downgraded in labor market efficiency (56th, down five steps); financial market development (93th, down five steps); technological readiness (102th, down four steps) due to slow application of new technology in business and production activities.
According to the flagship report, Switzerland and Singapore top the overall rakings of 148 economies.The US ranked fifth. Two other Asian economies, Hong Kong SAR (7th) and Japan (9th), featured in the top 10 of the rankings.
The Global Competitiveness Report's competitiveness ranking is based on the Global Competitiveness Index (GCI), calculated by drawing together data covering 12 categories, namely institutions, innovation, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation./.
Source: Chinhphu.vn