NZ 13th most competitive nation

NZ 13th most competitive nation

New Zealand 13th mostcompetitive nation

New Zealand is the 13th most competitive countryin the world, according to the 2016 Global Competitiveness Index.

The GlobalCompetitiveness Index ranks countries’ economic competitiveness, based oneconomic data and surveys of large businesses in 148 countries.

New Zealand scores in the top 6 countries for lack ofcorruption, ease of starting a business, legal rights, transparent policymaking, soundness of banks and ease of access to loans.

New Zealand’s weakest scores – ranking between 47thand 116th in the world – are for factors including quality of roadand rail infrastructure, levels of saving, and levels of exports.

BusinessNZ Chief Executive Kirk Hope said New Zealand’s overallhigh rankings reflected the soundness of the country’s economic, legal, justiceand policy institutions, and the strength of our economic fundamentals.

He said the areas where New Zealand could improve rankings areconnected to our business environment and business practice, including R&Dspending, buyer sophistication, manufacturing sophistication, technology uptakeand intensity of local competition.

 “These are areas wherework is needed for New Zealand to become a more competitive, innovative,sophisticated exporter of goods and services,” Mr Hope said.

The top ten countries in the Global Competitiveness Indexthis year are Switzerland, Singapore, US, Netherlands, Germany, Sweden, UK,Japan, Hong Kong and Finland, while Australia ranks 22nd.

The complete results of the 2016 Global CompetitivenessIndex are on www.weforum.orgn ��,�/u

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12 Oct, 2016

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