Zee Beam News

29.09.2005 12:11 MSK MosNews - Russia occupies 75th place in the Global Competitiveness Rating, prepared by the World Economic Forum. This year it has fallen five places, and is behind Kazakhstan and Azerbaijan. Russia is also far below China, India and Brazil in terms of competitiveness.
According to the Global Competitiveness Report, published by the World Economic Forum on Thursday, Sept. 29, Russia's possibilities in the area of research and development as well as considerably strong human resources somewhat compensate the serious weaknesses of its state institutions.
The economy of Finland was named the most competitive in the world for the third year running. Second place is occupied by the United States, then Sweden, Denmark, Taiwan and Singapore. The rating's last places are occupied by Kyrgyzstan and the Republic of Chad.
The rankings are drawn from a combination of hard data, publicly available for each of the economies studied, and the results of the Executive Opinion Survey, a comprehensive assessment conducted by the World Economic Forum, together with its network of partner institutes (leading research institutes and business organizations) in the countries covered by the report.
This year nearly 11,000 business leaders were polled in a record 117 economies worldwide. The survey questionnaire is designed to capture a broad range of factors affecting an economy's business environment that are key determinants of sustained economic growth. Particular attention is placed on elements of the macroeconomic environment, the quality of public institutions which underpin the development process, and the level of technological readiness and innovation.