Domican Republic among least competitive Lat Am countries
Geneva.- Chile remains the most competitive country in Latin America, a region which despite progress in that area in recent years, has faced huge challenges, such as a poor infrastructure, a weak education system and little investment in research and development (R + D), EFE reports.
Dominican Republic figures among the four Lat-Am countries which fared worst in the study.
The finding is from the Global Competitiveness Report 2012-2013 released today in Geneva by the World Economic Forum (WEF), which analyzes the situation of 144 countries.
The study by seven economists led by the Spaniard Xavier Sala of Columbia University (U.S.) measures the competitiveness of countries according to a scale and detects the obstacles which are hampring them in that area.
Switzerland heads the list once again, followed by Singapore, Finland, Sweden, Holland, Germany, the U.S., Britain, Hong Kong and Japan.
“Although macroeconomic conditions and access to finance have deteriorated significantly, labor and financial system reform has been applied, which will help improve the situation in the medium term,” WEF economist Beñat Bilbao told Efe.
Ranked 39th was Chile, the first Latin American country on the list, followed by Panama (40), Brazil (48), Mexico (53), Costa Rica (57), Peru (61), Colombia (69) Uruguay (74), Ecuador (86), Honduras (90), Argentina (94), El Salvador (101), Bolivia (104), Dominican Republic (105), Nicaragua (108), Paraguay (116), and Venezuela (126 ).
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