Economic Affairs

Singapore's No. 1 competitiveness ranking masks some weak spots

Ease of hiring foreigners, future workforce, corporate governance and policies to promote environmental sustainability can be improved

Last week, Singapore made headlines around the world for topping the World Economic Forum's (WEF) Global Competitiveness Index, edging ahead of the United States, which was top last year.

It's a prestigious accolade from a credible organisation. The Geneva-based WEF, which is best known for being the convener of the annual jamboree of world leaders at Davos, has been ranking countries on competitiveness since 1979 and follows a rigorous methodology, which it keeps updating.

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A version of this article appeared in the print edition of The Straits Times on October 16, 2019, with the headline 'S'pore's No. 1 competitiveness ranking masks some weak spots'. Print Edition | Subscribe