Kuwait steps up two ranks in competitiveness index: KDIPA

KUWAIT: Kuwaiti Direct Investment Promotion Authority (KDIPA) said yesterday that the 2018 Global Competitiveness Index showed in its annual report that Kuwait has advanced in the ranking based on the scale of proximity to the best performance (0100), where the country registered 62.1 percent, up 0.5 percent from the level in 2017.

KDIPA affirmed that the annual report of ‘Global Competitiveness’ is one of the most important indicators of measurement, adding that this is the 14th time in a row in which Kuwait is included in the report. The index witnessed a significant change this year in measuring the progress of countries in enhancing productivity, which stimulates sustainable economic growth and competitiveness within 12 pillars, which fall within four axes, favorable environment, human capital, markets and innovation system, it added.

Kuwait’s Ministry of Finance announced that the annual report of the World Economic Forum’s (2018 Global Competitiveness Index) showed Kuwait’s progress to rank 54th in the world compared to last year. Kuwait Competitiveness Index (GCI), which showed that Kuwait is the world’s top economy in terms of macroeconomic stability, reflected an improvement in its ranking in 47 out of 90 indices for different sectors, the ministry said. KDIPA is carrying out a project to study the promotion of Kuwait’s competitiveness in international indicators, which will result in the national agenda to enhance the competitiveness of the country.