According to the World Economic Forums’ The Global Competitiveness Report 2008-2009, Singapore has moved up 2 places to 5th place (among 134 countries) as one of the world’s most competitive country.
This is mainly attributed to the bolstering of its institutional foundation such as removing the burden of Government regulation and improving transparency of Government policymaking. Other contributions are efficiency of its goods, labour and financial markets as well as its outstanding infrastructure.
However, Singapore’s ranking is still restricted by its small domestic market and lack-lustre performance in the areas of interest rate spread and Government debt. The four countries ahead of Singapore are United States, Switzerland, Denmark and Sweden.
Back in Top 10 for Customer Orientation
Singapore is now ranked 10th for “customer orientation” which measures how much priority businesses put into customer needs and satisfaction.
View The Global Competitiveness Report 2008-2009.
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