Nepal's competitive index improves

LALITPUR, Sept 3:

Improving its status, Nepal was placed at 102nd position in Global Competitiveness Index (GCI) released by the World Economic Forum on Wednesday.

Nepal improved its position by 15 steps against the previous year in the Global Competitiveness Report that considers sets of institutions, policies and factors that determine the level of productivity of a country.

The GCI scores are calculated by drawing together country-level data covering 12 categories including among others infrastructure, health and primary education, goods market and labor market efficiency.

Altogether 144 countries were surveyed in 2014/15 for the global competition index, according to Dr Ramchandra Dhakal of Centre for Economic Development and Administration.

Speaking at the report launch here Wednesday, Nepal Coordinator of Executive Opinion Survey-2014 Prof Dr Ramesh Chandra Chitrakar said that South Korea has sharply improved its position in world economic growth.

The report has highlighted the need for increased investment, skilled human resources and private-public partnership for economic development of the developing nations.

Source: Republica