Vietnam, Cambodia, Brunei jump in competitiveness, Philippines loses out

The World Economic Forum (WEF)’s competitiveness ranking for 2019 is out and shows remarkable improvement for four Southeast Asian countries, namely Vietnam, Cambodia, Brunei and Singapore, while others declined.

The 2019 Global Competitiveness Report, which measures the strength of 103 key indicators, such as inflation, digital skills, institutions, macroeconomic stability, health, environment, human capital, markets, innovation and productivity across 141 countries, shows that Singapore has overtaken the US to become the most competitive nation in the world.

Singapore scored highly for its public sector, labour force, diversity and infrastructure. On life expectancy, Singapore was ranked number one, with newborn children expected to live until the age of 74.

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