Kazakhstan's Improving Competitiveness Recognized by World Economic Forum

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• Publié par: ministry-of-foreign-affairs-of-kazakhstan
• Nombre de lectures: 14
• Langue: English

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Kazakhstan's Improving Competitiveness Recognized by World Economic Forum

PR Newswire ASTANA, Kazakhstan, September 12, 2012

ASTANA,Kazakhstan,September 12, 2012/PRNewswire/ -- st The World Economic Forum (WEF) has rankedKazakhstanits latest51 in annual competitiveness rating of world economies, up 21 places compared to last year. The WEF Global Competitiveness Report 2012-13 says that "this improvement reflects progress in a number of areas, but most importantly in macroeconomic th stability, where the country ranks 16, and technological readiness, where it th th" advances from 87to 55. th th Kazakhstan'sneighbors,RussiaandChina,and 29, are ranked 67 respectively, out of 144 countries. Commenting, Foreign Minister Kazykhanov said: "A favorable rating in an influential survey of this kind is very important forKazakhstan'sinternational reputation. Weare encouraged to see that our efforts to modernize the economy are viewed positively by the World Economic Forum and note that in st 51 placewe are ahead of a number of EU member states.At the same time, we take the report's recommendations seriously and intend to address them. Our objective is to steadily improve our competitiveness and be one of the world's top 50 most competitive economies." The WEF report notes thatKazakhstanneeds to make progress in its categories of health, primary education, business sophistication and innovation. Since independence,Kazakhstan'sGDP per capita has grown 16-fold from$700 to$12,000. GDPgrowth has averaged 10% per year from 1999 to 2007.GDP grew 7.5% last year and is currently projected to grow 5.8% in 2012 and for 6% in 2013.Per capita GDP in 2011 wasUS$ 11,245. th Kazakhstanin the World Bank/IFC's "Doing Business 2012" reportwas listed 47 that compares regulation for domestic companies across 183 economies. Since 1992 Kazakhstan has attracted inward foreign direct investment worth more thanUS$90bn, representing around 80% of all foreign direct investments inCentral Asia.