GIS - 04 September, 2014: Mauritius is ranked first in Sub-Saharan Africa and 39th worldwide in the Global Competitiveness Report 2014-2015 published by the World Economic Forum on 2nd September. The country has improved its ranking by climbing six places from its previous position at the 45th place in the 2013-2014 report.
The 2014-2015 report also refers to Mauritius as the region’s most competitive economy thereby attributing its good performance to several achievements over the past years namely: improvement in institutions that is a more efficient bureaucracy; more efficient judiciary; and also in terms of good market efficiency.
According to the 35th edition of the report which assesses the competitiveness landscape of 144 economies worldwide, only three Sub-Saharan economies, including Mauritius (39th), South Africa (56th) and Rwanda (62nd) score in the top half of the rankings.
The report states that Sub-Saharan Africa continues to register impressive growth rates close to 5 per cent. Maintaining the momentum will require the region to move towards more productive activities and address the persistent competitiveness challenges, it further points out. The biggest challenge facing the region is that of human and physical infrastructure issues that continue to hamper capacity and affect its ability to enter higher value added markets, it mentions.
Regarding the world economy, the report emphasises innovation and skills as the key drivers of economic growth. While these increasingly influence competitiveness and the global economy tentatively recovers from the economic crisis, significant risks remain, resulting from a strained geopolitical situation, rising income inequality and the potential tightening of financial conditions, it further states.
It therefore proposes that it is crucial to address these structural challenges to ensure more sustainable and inclusive growth. More than ever, cooperative leadership among business, government and civil society is needed to re-establish sustainable growth and raise living standards throughout the world, it concludes.
The Global Competitiveness Report which is calculated through the Global Competitiveness index assesses the competitiveness landscape of economies worldwide providing insight into the drivers of their productivity and prosperity based on 12 pillars of competitiveness. They are namely: institutions, innovation, 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.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: firstname.lastname@example.org Website: http://gis.gov.mu