World Economic Forum: S’pore remains world’s 2nd most competitive economy

Singapore has kept its position as the world’s second most competitive economy, according to the World Economic Forum’s (WEF) Global Competitiveness Report released on September 3.

Switzerland ranked first in the report and Finland is third after Singapore.

The Geneva-based body said Switzerland has kept its title as the world’s most competitive economy for the fifth year running.

WEF also said the United States was able to reverse its four-year downward trend climbing two places to fifth position due to a perceived improvement in the country’s financial market as well as greater confidence in its public institutions.

The forum, most famous for its annual gathering of politicians and billionaires in the Alpine resort of Davos, said highly innovative countries with strong institutions have continued to top its international competitiveness rankings.

Source : Channel NewsAsia – 4 Aug 2013

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