Lebanon Businessnews News

competitiveness improving
Corruption and mismanagement of public facilities are main challenges
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Lebanon’s global competitiveness has improved compared to last year, according to a report published by the World Economic Forum in partnership with Bader and InfoPro.

Several indicators that give the final score had positive results. Among the most noticeable are innovation and sophistication, which rose to 3.58 compared to 3.33 last year.

“The country’s ranking improved this year due to its dynamic society and health and educational systems,” the report said.

Bader Chairman Robert Fadel said: “Growth in investment capital is a great achievement and a reward for a decade of continuous efforts by organizations that back entrepreneurship.” Indicators related to innovation and scientific and technological development were also positive.

According to Fadel, public opinion confidence in politicians and the quality of public services have deteriorated to unprecedented levels.

The country’s indicators related to irregular payments and bribes were low.

Fadel said: “What is really worrying and sounds the alarm is that Lebanon scored very bad results with regard to the quality of infrastructure and squandering in Government expenditure.”

Comparison of the competitiveness indicators in 2014 and 2015
Innovation and sophistication3.583.33
Macroeconomic environment2.632.56
Health and primary education6.296.29
Business sophistication4.053.91
Source: Global competitiveness reports 2014-2015
Reported by Yassmine Alieh
Date Posted: Oct 05, 2015
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