The Global Competitiveness Report reveals that Sri Lanka’s rank has improved where the global competitiveness is concerned registering the 70th position out of 131 countries.
“Last year Sri Lanka was ranked 81 out of the 122 countries. This is a good indication that Sri Lanka is becoming competitive in the global arena,” the Chief Economist in the Ceylon Chamber of Commerce (CCC) Gayathri Gunaruwan said at a seminar. The event was organised by the CCC on the topic `How Competitive is Sri Lanka for Business’.
Gunaruwan said that in the World Economic forum it takes two indices on Global Competitiveness and Business Competitiveness. She emphasized on the Global Competitiveness Index (GCI), which look at macro and micro economic aspects calculated on 100 variables.
According to her GCI looks into 12 main areas in measuring the country’s competitiveness globally and Sri Lanka has done better in certain sectors compared to last year.
The areas that have been taken into consideration were innovation, business sophistication, market size, technological readiness, finance market sophistication, labor market efficacy and good market efficiency.
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