Thursday, July 13 2017 17:12
Naira Badalian

Armenia plans to improve its position in the Global Competitiveness Index

ArmInfo. Armenia plans to improve  its position in the Global Competitiveness Index. The government of  Armenia on July 13 at a government meeting approved the list of  activities for 2017-2018, which is necessary to improve the country's  position in the rating.

According to the Minister of Economic Development and Investments  Suren Karayan, the government has studied the indicators of the  previous index, identified shortcomings and areas for which reforms  are needed in the coming years. As the Minister pointed out, in  particular, 78 gaps in the 10 main areas were diagnosed with gaps and  necessary measures to be taken. "Holding 36 events will improve  Armenia's position in the Global Competitiveness Index," the minister  said.

Armenia ranked 79th among 138 countries in the competitiveness  ranking for 2016-2017, having improved its positions by three  positions.

The Global Competitiveness Index is a global study and its  accompanying world ranking in terms of economic competitiveness. It  is based on the methodology of the World Economic Forum, based on a  combination of publicly available statistics and the results of a  global survey of company executives, an extensive annual survey  conducted by the World Economic Forum in conjunction with a network  of partner organizations - leading research institutions and  organizations in countries analyzed in report. The research has been  conducted since 2004 and currently represents the most comprehensive  set of competitiveness indicators in various countries of the world.  The index is made up of 12 components of competitiveness that detail  the competitiveness of the countries of the world at different levels  of economic development.  This is the "Quality of Institutions",  "Infrastructure", "Macroeconomic stability", "Health and primary  education", "Higher education and vocational training", "Efficiency  of the goods and services market", "Labor market efficiency",  "Financial market development" Technological level "," The size of  the internal market "," Competitiveness of companies "and" Innovation  potential."

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