WEF: Among 147 economies around the world, Bhutan ranked 109 when it came to how competitive it was in providing a business friendly environment and incentives. This report was released to the media by Druk Holding and Investments yesterday.
Bhutan joined for the first time in measuring where it stood in competitiveness ranking. The ranking is carried out by the world economic forum in Switzerland. Similar to the ease of doing business ranking, the global competitiveness index measures how easy it is to set up businesses in an economy.
Bhutan has been placed above Nepal and Pakistan in the global competitiveness report. Nepal ranked 117 and Pakistan 133. Other new member nations are Lao people’s democratic republic and Myanmar ranking 81 and 139. Countries like Switzerland, Singapore and Finland top the list.
A news release from DHI states more than 80 chief executives and business leaders were surveyed, using the statistical analysis designed in Switzerland. The Bhutan chamber of commerce and industry carried out the survey.
DHI’s chief executive officer, Karma Yonten, said, through promotion of entrepreneurship in the country like the BEGIN program, DHI will continually seek to improve competitive edge of the economy.
Prime Minister Tshering Tobgay has also mentioned in the news release that the global competitiveness index should serve as an international benchmark for the vitality and competitiveness of the economy.
“We should set ambitious goals for the government, to work with other stakeholders to improve our competitiveness, create jobs and attract investment,” the prime minister had said.
Secretary general of BCCI, Phub Tshering said the ranking must reinforce opportunities for better policies and simplified procedures.
The report was a result of a six-month survey carried out by DHI and BCCI. Strategic advisor to DHI, Randall Krantz, introduced the index in Bhutan.
By Nidup Gyelsthen