AZG Armenian Daily #176, 01/10/2005

Statistics

ARMENIA RATED 79TH FOR ECONOMIC COMPETITIVENESS

According to the latest data of the World Economic Forum, Armenia occupies
79th place by economic competitiveness among 117 countries of the world.
Reuters informed that the criteria for the countries competitiveness
underwent big changes during the last year.

Thus, Russia moved to 75th position from 70, yielding to Baltic countries
and Kazakhstan, as well as Azerbaijan. Armenia outgrows Moldova, Ukraine,
Georgia, Tajikistan and Kyrgyzstan.

The experts of the World Economic Forum state that the weakness of state
structures, as well as “brain drain” are the main obstacles for economic
growth. Particularly, they advise Russia to pay attention to the improvement
of the legal and legislative structures, to protect the right for property,
decrease corruption.

The well-conducted utilization of human resources, encouragement of reforms
and new approaches also contribute to the growth of economic competition.
According to the researches, the economy of Finland is the most competitive.
The United States occupies the second place. While Sweden, Denmark, Taiwan,
Singapore, Iceland, Norway and Australia are among the first dozen of the
economically strongest countries.

The World Economic Forum defines the economic situation of 117 countries of
the world by questioning 11 thousand entrepreneurs and research institutions
during the last 26 years.

They also take into account certain factors, such as, the quality of the
state structures’ work, the level of technologies and reforms.

By Petros Keshishian