Vietnam steps up in global competitiveness

Vietnam ranks 59th in the Global Competitiveness Report 2010-2011 of the World Economic Forum (WEF), up 16 steps over last year’s report.

In the report, which was announced on Sept. 9, Switzerland stands at the top of the ranks, followed by Sweden , Singapore and the US .

In Asia, Singapore was evaluated as the economy with the most competitiveness as it maintained third place in the rankings. Japan ranked sixth in the freshly-announced ranking.

The rankings are based on the Global Competitiveness Index (GCI), a survey of executives' perceptions and hard data on a country's so-called 12 "pillars": Istitutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.

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