Today the Open Society Forum NGO introduced the Mongolian rankings at the Global Competitiveness Report for 2016-2017, published by the World Economic Forum. However, Mongolia still remains steady compared with the previous years.
This year, no progress were made to the Mongolia`s competitive strengths. Mongolia collects 3.8 score out of 7 and ranks 102th place out of 138 countries.
In 2015, Mongolia collects 3.8 score and ranks 104th place out of 140 countries. After joining the report, Mongolia has collected 3.2-3.9 score which proves that Mongolia has not made significant changes to its competitive strengths.
Mongolia showed progress in following four indicators in 2016 compared with the previous years:
- Macroeconomic stability,
- Financial market development,
- Technological readiness,
- Higher education and training - 0,1 score.
Increase in cellular phone users, internet speed and number of internet users has affected the technological readiness progress.
Decrease in inflation and 5.9 per cent inflation rate has positively affected the Macroeconomic stability indicator.
Following four competitiveness indicators have dropped:
- Business sophistication,
- Goods market efficiency,
- Labor market efficiency,
- Institutions.
Four indicators including infrastructure, financial market development, innovation and business sophistication did not reach 50 percent score that must be taken. However, Mongolia has listed in the first 50 countries with following indicators:
- Flexibility of wage determination (ranks 4th )
- Strength of investor protection (ranks 8th )
- Internet speed (ranks 17th )
- Hiring and firing practices (ranks 19th )
- Total tax rate (ranks 23rd)
- Internet users (ranks 32nd)
- Quantity of education (ranks 38th)
- Quality of math and science education (ranks 40th)
- Number of procedures required to start a business (ranks 41st)
- Availability of scientist and engineers (ranks 47th)
Today the Open Society Forum NGO introduced the Mongolian rankings at the Global Competitiveness Report for 2016-2017, published by the World Economic Forum. However, Mongolia still remains steady compared with the previous years.
This year, no progress were made to the Mongolia`s competitive strengths. Mongolia collects 3.8 score out of 7 and ranks 102th place out of 138 countries.
In 2015, Mongolia collects 3.8 score and ranks 104th place out of 140 countries. After joining the report, Mongolia has collected 3.2-3.9 score which proves that Mongolia has not made significant changes to its competitive strengths.
Mongolia showed progress in following four indicators in 2016 compared with the previous years:
- Macroeconomic stability,
- Financial market development,
- Technological readiness,
- Higher education and training - 0,1 score.
Increase in cellular phone users, internet speed and number of internet users has affected the technological readiness progress.
Decrease in inflation and 5.9 per cent inflation rate has positively affected the Macroeconomic stability indicator.
Following four competitiveness indicators have dropped:
- Business sophistication,
- Goods market efficiency,
- Labor market efficiency,
- Institutions.
Four indicators including infrastructure, financial market development, innovation and business sophistication did not reach 50 percent score that must be taken. However, Mongolia has listed in the first 50 countries with following indicators:
- Flexibility of wage determination (ranks 4th )
- Strength of investor protection (ranks 8th )
- Internet speed (ranks 17th )
- Hiring and firing practices (ranks 19th )
- Total tax rate (ranks 23rd)
- Internet users (ranks 32nd)
- Quantity of education (ranks 38th)
- Quality of math and science education (ranks 40th)
- Number of procedures required to start a business (ranks 41st)
- Availability of scientist and engineers (ranks 47th)