Kazakhstan ranks 32nd in World Competitiveness Ranking

ASTANA. KAZINFORM World Competitiveness Center of the International Institute for Management Development (IMD, Lausanne, Switzerland) announces results of the "World Competitiveness Yearbook - 2014" which compared 60 countries all over the world. The most competitive countries recognized to be the United States, Switzerland and Singapore.
None
None

IMD is a prestigious and well-known ranking in the field of comparison of global competitiveness. The World Competitiveness Yearbook is the result of a comprehensive study that assesses factors such as Economic Performance, Government Efficiency, Business Efficiency and Infrastructure, the press service of the Economy and Budget Planning Ministry of Kazakhstan.

The Yearbook contains 338 indicators, of which 2/3 are based on statistical data and 1/3 on the survey. Initially, the Republic of Kazakhstan began to participate in IMD ranking in 2008 by the initiative of the Economic Research Institute of the Ministry of Economy and Budget Planning of the Republic of Kazakhstan. Therefore, the Economic Research Institute became an exclusive partner of IMD in Kazakhstan. According to the research in 2014 the Republic of Kazakhstan occupies 32nd place, which confirms the country's strong position in the world ranking. By the factor "Economic Performance" Kazakhstan took 27th place, improving its position by 2 points. In the context of the factor above, the following changes of positions are observed on subfactors "International trade" (52nd, decrease by 33 positions) and "Employment" (19th, decrease by 4 positions). Following subfactors demonstrated improvement such as "International Investment" (20th place, improvement by 9 positions), "Domestic Economy" (28th, improvement by 9 points) and "Price" (39th place, improvement by 6 positions). By the factor "Government Efficiency" country ranked to be at 20th place, improving its position by 3 points. The decrease observed in the subfactor "Public Finance" (14th place, decrease by 3 positions). However, Kazakhstan achieved improvement of subfactors "Fiscal Policy" (9th place, improvement by 3 positions), "Institutional Framework" (35th place, improvement by 4 positions), "Business Legislation" (28th place, improvement by 5 positions) and "Societal Framework" (25th place, improvement by 2 positions). By the factor "Business Efficiency" Kazakhstan improved from 38th to 33rd place. The changes occurred due to the higher positions of the subfactors "Productivity and Efficiency" (45th place, improvement by 3 positions), "Labor Market" (9th place, improvement by 3 positions), "Finance" (48th place, improvement by 1 position) and "Management Practices" (32nd place, improvement by 2 positions). There is a slight decrease by 1 point on the subfactor "Attitudes and Values" (28th place). By the factor "Infrastructure" Kazakhstan slightly decreased its position by 1 point - from 44th to 45th place. There is a constant improvement of the four subfactors such as "Technological infrastructure" - 32nd place (improvement by 6 positions), "Basic Infrastructure" - 37th place (improvement by 3 positions), "Health and Environment" - 56th place (improvement by 1 position) and "Education" - 40th place (improvement by 2 positions). The decrease observed on the subfactor "Scientific infrastructure" - 50th place (decrease by 5 points). According to the ranking of 2014, Kazakhstan is ahead of Czech Republic (33rd place), Turkey (40th), Mexico (41st), Italy (46th), South Africa (52nd) and Brazil (54th). Among the CIS countries Kazakhstan took the leading positions being ahead of Russia by 6 points (38th place) and Ukraine by 17 points (49th place). Respondents believe that the five most attractive factors of the economy of the Republic of Kazakhstan are: Dynamism of the economy (51.9% of respondents), Competitive tax regime (44.2%), Policy stability and predictability (41.3%), Open and positive attitudes (35.6%), Business-friendly environment (31.7%). More detailed results of the ranking can be found on the official website of the International Institute for Management Development: www.imd.ch/wcy14.

Currently reading