Kazakhstan ranked 32nd in the 2017 IMD World Competitiveness Ranking
The World Competitiveness Center of the International Institute for Management Development (IMD, Lausanne, Switzerland) announced the results of the 2017 World Competitiveness Ranking.
The IMD ranking is the result of a comprehensive study that assesses factors such as economic performance, government efficiency, business efficiency and infrastructure. The Yearbook contains 342 criteria, 2/3 of which are based on hard data statistics and 1/3 on survey data.
In 2017, 63 countries took part in the ranking. The most competitive countries are Hong Kong, Switzerland and Singapore.
According to the results of the 2017 survey, the Republic of Kazakhstan ranked 32nd, having risen 15 points up compared to 2016 (47th place), which, on the whole, confirms the improvement of the country's position in the world ranking.
By the "Economic Performance” factor Kazakhstan took the 54th place, having lowered the positions on 2 points. The deterioration of the position is due to the decline in the positions by the three subfactors: "International Trade" (62nd place, decrease by 4 points), "Employment" (32nd place, decrease on 10 points) and "Prices" (53rd place, 9 points decrease). There is an improvement by the subfactors as "Domestic Economy" (40th place, improvement by 11 positions), and "International investment" (18th place, improvement by 6 positions).
By the "Government Efficiency" factor the country took the 19th place, having risen 12 points up. Significant improvement in positions is observed for almost all subfactors, with the exception of "Fiscal Policy" (10th place, improvement by 1 position) and "Societal Framework" (30th place, no changes) subfactors. Thus, the positions of Kazakhstan by the subfactors settled down as follows: "Public Finance" (4th place, improvement by 47 positions), "Institutional Framework" (46th place, improvement by 5 positions) and "Business Legislation" (22nd place, improvement by 10 points).
By the "Business Efficiency" factor Kazakhstan's position is improving from the 44th to the 23rd place. In the context of this subfactor, improvements were made in all components. Kazakhstan's positions by sub-factors as "Management Practices" (14th place, improvement by 32 positions), "Attitudes and Values" (11th place, improvement by 21 positions), "Productivity" (38th place, improvement by 15 positions), and "Labor Market" (7th place, improvement by 15 positions) were significantly improved.
By the "Infrastructure" factor there is an improvement in the position by 5 points - from the 48th to the 43rd place. The improvement occurred by four subfactors: "Basic Infrastructure" - 32nd place (improvement by 10 positions), "Technological Infrastructure" - 43rd place (improvement by 4 positions), "Health and Environment" - 53rd place (improvement by 2 positions) and "Education" - 35 place (improvement by 9 positions). The decrease in the position is observed by the subfactor "Scientific Infrastructure" - 49th place (deterioration by 1 position).
According to the respondents, among the five most attractive factors of the economy of the Republic of Kazakhstan are: strategic stability and predictability of the situation (62.2%), favorable business environment (53.8%), beneficial system of taxation (43.7%), dynamism of the economy (42.0% of respondents) and effective labor relations (37.0%).
The Republic of Kazakhstan began to participate in this ranking in 2008 for the first time; Economic Research Institute JSC is the IMD partner in Kazakhstan.
More details on the results of the ranking may be found on the official website of the International Institute for Management Development: http://www.imd.org/wcc/.
The IMD World Competitiveness Center for the first time this year publishes a separate report, which assesses the digital competitiveness of countries. Indicators for technology and scientific infrastructure are already included in the overall ranking. At the same time, the new World Digital competitiveness ranking introduces a number of new criteria to access countries’ abilities to adopt and explore digital technologies leading to transformation in government practices, business models and society in general.
The Digital Competitiveness ranking is a new report of the World IMD Competitiveness Center, first published in 2017 along with the annual World Competitiveness Ranking. Data and criteria for technology have always been part of the main ranking, which allowed the center to compile a new digital ranking. According to the results of the 2017 survey, the Republic of Kazakhstan took the 38th place, having risen 5 points up compared to 2016.
Singapore, Sweden, the United States, Finland, Denmark, the Netherlands, the Hong Kong SAR, Switzerland, Canada and Norway are in the top ten in the first ranking of 2017.
The ranking is held annually since 1989 by the IMD World Competitiveness Center and is widely recognized as the leading annual assessment of the competitiveness of countries. In 2016, the top ten included the Hong Kong SAR, Switzerland, the United States, Singapore, Sweden, Denmark, Ireland, the Netherlands, Norway and Canada.
Mutual trade of Kazakhstan with the countries of the EAEU in January-November 2016
n January-November 2016 the mutual trade of the Republic of Kazakhstan with EAEU countries amounted to - 11 945,7 mln. US dollars, which is 21,1% less than in January-November 2015, including export - 3 480,6 mln. US dollars (down by 26,8%), imports – 8 465,1 mln. US dollars (down 18,5%).
In the structure of export of the Republic of Kazakhstan mineral products dominate (33,5% of the total volume of exports to the countries of EAEU), metals and metal products (25,6%), chemical products (18,7%), products of animal and vegetable origin, finished food products (10,8%).
Of out EAEU countries to a greater extent are imported machinery and equipment (24,7% of total imports from the EAEC countries), chemical products (17,1%), mineral products (16,6%), products of animal and vegetable origin, ready food products (14,1%), metals and metal products (12,5%).
Bakytzhan Sagintayev held a meeting of the Expert Council on economic issues
The issues of rehabilitating the banking and the competitiveness of key sectors of the economy were discussed during the meeting.
The experts analyzed the current situation and made a number of proposals to the aforementioned areas.
The Prime Minister instructed the relevant state bodies and experts to study the issues and to present their proposals at the next meeting.
It should be reminded that Expert Council on economic issues was established by the Order of the Prime Minister of the Republic of Kazakhstan and its first meeting was held on December 9, 2016.
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July 29, 2015 in Karaganda city within the frameworks of analysis conduction on Kazakhstan’s competitiveness improvement an alignment meeting was held on topic: “Human capital assets development”.
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