(MENAFN- QNA) Qatar has ranked 13 out of 61 mostly high income countries in the International Institute for Management Development (IMD) World Competitiveness Yearbook 2015.
Areas where Qatar ranked highly in the report included economic performance (2), government efficiency (4) and business efficiency (11). Scope for improvement was identified in some areas, including infrastructure (47). This ranking has been positively influenced by a number of factors, including strong economic performance as represented by current account and trade surpluses, Qatar's low unemployment rate, and the solid growth of GDP. Other contributing factors were a strong surplus in the general budget and efficient financial management.
In a press statement, the Ministry of Development Planning and Statistics said this year's assessment confirms Qatar's strong performance across multiple fronts. The assessment is based on a range of statistical indicators and on opinions polled among local business leaders, giving a rounded view of the economy's competitive position.
On the other hand, there were some areas where the report suggests some areas of improvements. These include lowering export concentration by product and partner, strengthening direct inward investment flows, increasing female labor force participation, strengthening high-tech exports and the share of renewables in total energy requirements.
HE Minister of Development Planning and Statistics Dr. Saleh bin Mohammed Al Nabit welcomed the findings of the report that, he said, "confirm that our overall performance is solid and they will certainly help us to identify those areas where we need to consolidate gains and make further improvements."
"Qatar's National Development Strategy sets out clear goals in the areas of business regulation, economic infrastructure, and private sector development that will lead to future advances. Qatar has no option but to diversify its economy. If it is to achieve this, we must continuously [work] to increase efficiency and productivity and improve our international competitiveness. These results show us where we need to redouble our efforts and improve further. The IMD findings will be carefully studied and, along with other evidence, will help us sharpen our efforts to bolster our economy further," he added.
The assessment of Qatar's competitiveness in IMD World Competitiveness Yearbook 2015 is a collaborative effort of IMD and the Ministry of Development Planning and Statistics. Qatar has contributed to the IMD Competitiveness Yearbook for the seventh time.
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