Bangladesh has slipped two notches to 105th in economic competitiveness ranking in 2019, according to Global Competitiveness Index (GCI) 2019 released by World Economic Forum recently. Centre for Policy Dialogue (CPD) unveiled the report on behalf of WEF.
Among 141 countries of the world, the GCI ranked Singapore as the most competitive economy followed by the USA and Hong Kong. Chad was ranked as the least competitive economy.
Bangladesh’s position eroded in 10 out of 12 pillars. The 12 pillars include institution, infrastructure, ICT adoption, macroenomic stability, health, skills, product market, labour market, financial system, market size, business dynamism and innovation capability. However, Bangladesh’s overall score has remained same at 52.1 in 2019 in doing business.
Some of the areas in which Bangladesh’s ranking went down are business dynamism, labour market and skills, according to the GCI 2019.
The index measures the performance of a country’s institutions, policies and other factors that determine its productivity and overall prosperity of its citizens, states World Economic Forum.
Among South Asian countries, India slipped by 10 position to 68 in 2019, Sri Lanka went up by 1 position to 84 followed by Nepal in 108 (+1 position) and Pakistan in 110 (-3 position).