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Macedonia is most competitive country in the region

2014-09-05 19:11

The jump of 10 places of Macedonia in the latest Competitiveness Report of the World Economic Forum and ranking on 63 place, according to experts, is optimistic and positive result of reforms implemented in recent years, it is message for foreign investors, reports MIA.

                    

- The indicator of jump of 10 places indicates that have occurred serious changes in the area of competitiveness of the national economy, particularly the assessment is made at time when somehow end the global economic crisis, which is result of earlier and current reforms in the economy, said professor at the University American College Skopje Tome Nenovski.

According to him, it is important that Macedonia has noted improvements in all columns based on measuring competitiveness, innovation and especially the work of the institutions. – For Macedonia is particularly interesting increase in the assessment of the competitiveness of the economy in the areas of innovation and institutions, because if we compare with previous estimates of this indicator, we found that in the past, the competitiveness of the Macedonian economy was lowest in areas of valued innovation and entrepreneurship. It gave us guidelines where as country in the coming period we should focus to increase the competitiveness of the economy and it maintains its status as a leader in the region, after Bulgaria, says Nenovski.

Macedonia, he points out, should be proud with this data before foreign investors and to attract more as their ultimate financial destination. – The competition is always one of the most important factors for encouraging foreign investors for greater interest in investing, says Professor Nenovski.

The World Economic Forum provides complete picture of the state of certain economies, analyzed by 12 pillars each separately includes many parameters, which accurately reflects the situation in the national economy. Competitiveness of the Macedonian economy received score of 4.3 on a scale of 1 to 7, and ranked is at 63 place as the best in the region after Bulgaria.

Professor at the University of Management and Tourism Zoran Ivanovski in the analysis of individual columns of the report, points out that are necessary additional investment in road and rail infrastructure. The macroeconomic environment, however, he said, should take into account the amount of the budget deficit and the share of public debt to GDP, which should be kept under control and efforts to reduce gradually. The efficiency of the labor market, according to him, requires the use of talented graduates and masters scholars, professional management companies, and attracting talented – the best students and keeping them in the company or in the national economy in general.

According Ivanovski, technological readiness of the Macedonian economy leaves room for incentives for companies that invest in new technology, and they think about winning alternative markets.

In the column where are the innovation and business sophistication, Ivanovski said there is need for greater investment in research and development, which is confirmed in the pillar where we analyze higher education as basic generator of labor, which can lead to development of Macedonia. – Generally speaking, it is known fact that the best investments are those in education and in research and development. Only those in the medium-term, can introduce Macedonia to the company of countries with higher living standards, said Ivanovski.

Report on Macedonia at the World Economic Forum should be thoroughly analyzed by the National Council for Entrepreneurship and Competitiveness. It should result in set of measures and suggestions for improvement and continues offer by the Government.

The report shows that the world is recovering from the economic crisis, the United States are again in third position, and six European countries listed among the top 10 most competitive economy for sixth consecutive years are Switzerland, followed by Singapore, USA, Finland, Germany, Japan, Hong Kong, the Netherlands, UK and Sweden. World Economic Forum covers 144 countries and includes 114 indicators encompassing 12 columns measuring competitiveness and productivity of economy.

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