Nepal ranks at 125 in Global Competitiveness Report 2009-10

Nepal continues to bring out the rear in the Global Competitiveness Report 2009-10, which was released today globally. The nation, ranked at 125, has improved by a solitary place as compared to last year, as per the flagship report of the World Economic Forum (WEF).
Last year Nepal was at the 126th rank among 134 countries.
The WEF had conducted the survey in 133 countries. Of the three parameters taken into account — basic requirement, efficiency enhancers and innovation-sophistication factors — Nepal has shown improvement in the first category. The index is based on 12 pillars and 110 indicators of competitiveness, projecting a comprehensive picture of nations across the world and capturing all stages of development. Institution, infrastructure, macro-economic stability, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market sophistication, technological readiness, market size, business sophistication and innovation are the 12 pillars of its exhaustive study.
“Nepal has shown signs of progress in macro-economic stability. But, it has a lot of catching up to do on infrastructure, technological readiness and innovation,” said Professor Dr Ramesh Chitrakar, country coordinator, Global Competitiveness Programme, and project director of the Centre for Economic Development and Administration (CEDA). The CEDA is the working partner institute for the Global Competitiveness Programme, a Geneva-based body, since 2006.
Altogether, 13,000 business leaders were polled across 133 nations this year. “In Nepal, 50 per cent of the business leaders were polled from large enterprises. The rest were from middle and small scale units,” said Chitrakar.
Switzerland topped the overall ranking followed by the United States. Last year, America had topped the index. But it lost out this year largely due to its weakening financial markets and macro-economic instability. Singapore figured third on the list, a two-slot improvement since last year. It scored well on the following criterions — best institutions in the world, efficient goods and labour market, world-class infrastructure and sustained focus on education.
China — at 29th — and India —at 49th — continue to power their way among large developing economics. Nepal ranks at the bottom in South Asia.
According to the report, the nation’s per capita GDP was a paltry $459.30 in 2008.