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

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