Jakarta, MINA – Indonesia’s competitiveness rating based on the 2019 IMD World Competitiveness Yearbook (WCY) increases significantly from 43 to 32. This increase is the highest in Asian region
Some criteria that show significant improvements that contribute to the ranking increase include application of patents, eradication of corruption, industrial electricity costs, justice, and law.
“Thus, Indonesia’s current competitiveness ranks above countries such as India, the Philippines, Turkey, South Africa and Brazil,” the Ministry of Finance said in its press release on Sunday (6/30).
Judging from the competitiveness landscape based on WCY’s assessment, Indonesia has advantages in terms of the domestic economy (rank 7), taxation policy (rank 4), labor market (rank 3), and behavior and value (rank 14).
However, Indonesia still has to continue to make improvements in aspects of international trade (ranked 59), health & environment (ranked 58), education (ranked 52), & technology infrastructure (ranked 49).
It shows that Indonesia has made good progress in various aspects such as economics, education and knowledge, and law.
Based on the Executive Opinion Survey, which is one part of the assessment of WCY’s competitiveness, the factors that are considered the most attractive of the Indonesian economy are dynamic economics, open and positive public behavior, and stable & predictable policies.
Improvements in Indonesia’s competitiveness rankings have shown positive results from various structural and economic reforms that have been consistently carried out by the government. Going forward the government will continue its commitment to structural reforms in order to increase productivity & competitiveness.
Infrastructure, quality of human resources, industrialization and the institutional framework are several aspects of being a development priority by the government. (T/Sj/P2)
Mi’raj News Agency (MINA)