In a recent publication by the International Institute for Management and Development (IMD) World Competitiveness Center in Lausanne, Kazakhstan was ranked 37th in the World Competitiveness Ranking. The ranking, which evaluates economic, government, and business performance along with infrastructure, placed Kazakhstan ahead of countries like Kuwait, Portugal, and India.
Compared to last year's ranking, Kazakhstan has made significant progress, moving up six places. The country's overall score was recorded as 66.11, showcasing improvements in various sectors.
Kazakhstan's economic performance ranking improved by one spot, now standing at 57th. The country also demonstrated advancements in government efficiency, moving up two positions to secure the 23rd spot. Similarly, in terms of business efficiency, Kazakhstan climbed one spot and secured the 31st position. However, the nation experienced a minor setback in the infrastructure category, dropping from 46th to 47th place.
The report published by the IMD World Competitiveness Center highlighted several challenges that Kazakhstan needs to address in 2023. These include stimulating business activity, enhancing production potential, developing infrastructure, addressing national food security concerns, and improving human capital.
Denmark claimed the top spot in the World Competitiveness Ranking, followed by Ireland, Switzerland, Singapore, and the Netherlands. These countries showcased strong performances in various sectors, contributing to their high rankings.
The IMD World Competitiveness Ranking is known for its comprehensive study, which incorporates benchmarking, trends, statistics, and survey data. The ranking provides valuable insights into the competitive landscape of countries worldwide, helping policymakers and businesses identify areas for improvement and development.
Kazakhstan's upward movement in the World Competitiveness Ranking reflects the country's efforts to strengthen its economy, governance, and business environment. With continued focus and targeted reforms, Kazakhstan aims to further improve its competitive position on the global stage.
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