Latest news with #GlobalCompetitivenessReport
Qatar Tribune
11 hours ago
- Business
- Qatar Tribune
Qatar ranks among top ten countries in 2025 Global Competitiveness Report
Tribune News Network Doha The National Planning Council (NPC) has announced that the State of Qatar has made remarkable progress in its development journey by ranking 9th globally in the 2025 Global Competitiveness Report, issued by the International Institute for Management Development (IMD). This marks the first time Qatar enters the top ten countries in the global competitiveness ranking. The achievement reflects Qatar's well-established position in economic and administrative performance indicators and reaffirms the effectiveness of its long-term national policies in implementing the Third National Development Strategy and achieving Qatar National Vision 2030. The Global Competitiveness Report assesses the performance of 67 economies across more than 330 indicators covering four main themes: economic performance, government efficiency, business efficiency, and infrastructure. Qatar has made significant progress in overall ranking, rising from 11th in 2024 to 9th in 2025. A key driver of this advancement was Qatar's leap in the business efficiency axis, from 11th place in 2024 to 5th in 2025, reflecting ongoing reforms to enhance labor market flexibility, stimulate entrepreneurship, and empower the private sector. Qatar also maintained its 7th place globally in both economic performance and government efficiency, highlighting the resilience of its fiscal policy, the efficiency of public institutions and the quality of governance, especially in light of the current global economic challenges. In the infrastructure axis, Qatar moved up three ranks, indicating continued strategic investment intransport, education, healthcare and digital infrastructure. Commenting on this achievement, HE Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa, Secretary General of the National Planning Council, stated: 'Qatar's entry into the top ten globally in the competitiveness Report is a true testament to the clarity of our strategic vision, the solidity of our institutions, and the cohesion of our national efforts. This progress underscores the country's firm commitment to building a dynamic knowledge- and innovation-based economy, that offers fair and sustainable opportunities for all. We continue to implement the Third National Development Strategy in alignment with Qatar National Vision 2030, while focusing on enhancing competitiveness, achieving sustainable development, and improving the quality of life for the entire population.' The report pointed out that Qatar recorded a significant improvement in several key indicators, where real GDP growth increased by 2.4%, real GDP per capita increased by 0.82%. Additionally, the Consumer Price Index (CPI) recorded a modest 1.07% year-on-year increase, while the homicide rate dropped to 0.07 cases per 100,000 people—the lowest globally. Moreover, Qatar ranked first globally in 14 sub-indicators in the report, including youth unemployment rate, overall unemployment rate, consumption tax rate, individual income tax rate, homicide rate, human capital from expatriate labor, use of big data and analytics, effectiveness of corporate boards, banking and financial services, credit availability, perceived need for economic and social reforms, environmental legislation, financing of technological development, and healthcare infrastructure. Qatar also ranked second in several other sub-indicators, reinforcing its leading position in various aspects of competitiveness. This progress yields tangible benefits for individuals and businesses alike. Qatar's high ranking in global indices boosts investor confidence, generates greater levels of foreign direct investment, and expands job opportunities in developed and future-oriented sectors. It also contributes to creating a business environment that stimulates growth and innovation and supports the diversification and long-term stability of the national economy, which is a key pillar of the Third National Development Strategy. This advancement underscores the effectiveness of Qatar's data-driven policy approach, empowering the private sector, and instilling a governance system based on performance, transparency and innovation, ensuring Qatar's position as a regional and global leader in competitiveness and sustainable development. It should be noted that this is Qatar's 17th consecutive participation in the Global Competitiveness Report, representing a sustained collaboration between the International Institute for Management Development (IMD) and the National Planning Council.
Qatar Tribune
15 hours ago
- Business
- Qatar Tribune
Qatar among top ten countries worldwide in Global Competitiveness Report 2025
DOHA: The National Planning Council (NPC) announced that the State of Qatar has made remarkable progress in its development journey by ranking 9th globally in the 2025 Global Competitiveness Report, issued by the International Institute for Management Development (IMD). This marks the first time Qatar enters the top ten countries in the global competitiveness ranking. This achievement reflects Qatar's well-established position in economic and administrative performance indicators and reaffirms the effectiveness of its long-term national policies in implementing the Third National Development Strategy and achieving Qatar National Vision 2030. The Council indicated in its statement that the Global Competitiveness Report assesses the performance of 67 economies across more than 330 indicators covering four main themes: economic performance, government efficiency, business efficiency, and infrastructure. Qatar has made significant progress in overall ranking, rising from 11th in 2024 to 9th in 2025. A key driver of this advancement was Qatar's leap in the business efficiency axis, from 11th place in 2024 to 5th in 2025, reflecting ongoing reforms to enhance labor market flexibility, stimulate entrepreneurship, and empower the private sector. Qatar also maintained its 7th place globally in both economic performance and government efficiency, highlighting the resilience of its fiscal policy, the efficiency of public institutions and the quality of governance, especially in light of the current global economic challenges. In the infrastructure axis, Qatar moved up three ranks, indicating continued strategic investment in the sectors of transport, education, healthcare and digital infrastructure. Commenting on this achievement, Secretary-General of the National Planning Council Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa said, "Qatar's entry into the top ten globally in the competitiveness Report is a true testament to the clarity of our strategic vision, the solidity of our institutions, and the cohesion of our national efforts. This progress underscores the country's firm commitment to building a dynamic knowledge - and innovation-based economy, that offers fair and sustainable opportunities for all." "We continue to implement the Third National Development Strategy in alignment with Qatar National Vision 2030, while focusing on enhancing competitiveness, achieving sustainable development, and improving the quality of life for the entire population," he noted. The report pointed out that Qatar recorded a significant improvement in several key indicators, where real GDP growth increased by 2.4 percent, real GDP per capita increased by 0.82 percent. Additionally, the Consumer Price Index (CPI) recorded a modest 1.07 percent year-on-year increase, while the homicide rate dropped to 0.07 cases per 100,000 people, the lowest globally. Moreover, Qatar ranked first globally in 14 sub-indicators in the report, including youth unemployment rate, overall unemployment rate, consumption tax rate, individual income tax rate, homicide rate, human capital from expatriate labor, use of big data and analytics, effectiveness of corporate boards, banking and financial services, credit availability, perceived need for economic and social reforms, environmental legislation, financing of technological development, and healthcare infrastructure. Qatar also ranked second in several other sub-indicators, reinforcing its leading position in various aspects of competitiveness. This progress yields tangible benefits for individuals and businesses alike. Qatar's high ranking in global indices boosts investor confidence, generates greater levels of foreign direct investment, and expands job opportunities in developed and future-oriented sectors. It also contributes to creating a business environment that stimulates growth and innovation and supports the diversification and long-term stability of the national economy, which is a key pillar of the Third National Development Strategy. This advancement underscores the effectiveness of Qatar's data-driven policy approach, empowering the private sector, and instilling a governance system based on performance, transparency and innovation, ensuring Qatar's position as a regional and global leader in competitiveness and sustainable development. It should be noted that this is Qatar's 17th consecutive participation in the Global Competitiveness Report, representing a sustained collaboration between the International Institute for Management Development (IMD) and the National Planning Council.
Express Tribune
16-02-2025
- Business
- Express Tribune
Empty promises or real change?
Listen to article ISLAMABAD: The term "reforms" has been so misattributed and misused in Pakistan that any mention of reform sounds like an empty promise without any genuine strategy for change. A new report titled Pakistan Reforms Report (PRR) 2025 has been published recently. The report, published by Mishal Pakistan, applauds the government for instituting "more than 100 reforms" in 2024, citing a number that raises more questions than it answers. Furthermore, a closer look at the report suggests that most of these reforms are wrongly termed as such because they are either a mere continuation of previous plans or solely steps taken to track previous programs. Surprisingly, the report mentions that the government privatised seven loss-making State-Owned Enterprises (SOEs) in January 2025. While the names of those SOEs are not provided, this claim alone seriously weakens the credibility and authenticity of the report. While the case of the privatisation of Pakistan International Airlines (PIA) is no mystery to anyone, it is clear that the current government has not completed any privatisation transaction. The last successful transaction was closed in February 2024. While the government is not hiring employees for vacant seats and has abolished 150,000 vacant positions to cut anticipated government expenditures (if these positions were to be filled), commercial SOEs are still functional and are incurring billions of rupees in losses to the country. Most SOEs, including those in the transport and energy sectors, continue to suffer from financial burdens and management inefficiencies. Thus, it is essential to verify whether any liquidation or restructuring of these SOEs has taken place. The World Economic Forum, for which Mishal serves as a country partner, publishes the Global Competitiveness Report, evaluating economies based on 12 key pillars, including innovation, business environment, efficiency of the labour market, and financial system of the country. One would expect the section on the economic competitiveness of Pakistan to provide an analysis based on global rankings, focusing on ease of doing business, productivity, innovation, and economic efficiency. However, the section largely applauds the Special Investment Facilitation Council (SIFC) for its role in supporting economic recovery. While SIFC's efforts in attracting investment and addressing governance bottlenecks are debatable, the report lacks any reference to actual competitiveness indicators, making it more of a political endorsement rather than an analytical assessment. According to the latest Global Competitiveness Report, Pakistan ranks 110 out of 140 countries, underlining the fact that the country is far from being a globally competitive nation. This ranking indicates persistent barriers in innovation, regulatory inefficiencies, and weak infrastructure. While the government touts progress in ease of doing business, the reality is that Pakistan still faces systemic challenges in fostering a business-friendly environment, reducing red tape, and encouraging advanced technological adoption. Without structural reforms in key areas such as tax policy for businesses, research and development, and institutional efficiency, Pakistan's competitiveness is not expected to make a stark shift in the rankings. On the fiscal management front, the Pakistan Reforms Report highlights that pension reforms could potentially save Rs1.7 trillion over the next decade through the contribution fund scheme introduced in 2024. However, this scheme applies only to new entrants in government services, meaning its impact on reducing pension expenditures will take considerable time. Meanwhile, pension expenditure for existing beneficiaries in FY24 alone stood at Rs1.2 trillion, and with a 15% increase announced in the FY24-25 budget, the financial burden remains substantial. Pakistan can look to successful pension reform models in countries like Chile and India, which have implemented structured transitions to reduce long-term liabilities. On the fiscal side, the most significant reform area pertains to tax policy rates and the complexity of the tax system. The report, as well as the Economic Transformation Agenda, remains silent on this issue. While technology can help, in the absence of real policy reforms, it cannot fix the deep-rooted problems. While the country is at a crossroadsas alwaysand is in dire need of actual economic and governance reforms, it is important that only implemented reforms are recognised as such. Announcing policies and making administrative changes don't constitute actual reforms unless concrete execution and measurable outcomes are produced. The Pakistan Reforms Report highlights several initiatives taken by the Pakistan Muslim League-Nawaz (PML-N) government, some of which are potentially viable and can pave the way for long-term progress. Some of these reported reforms should be acknowledgedsuch as allowing Pakistani IT companies to retain foreign exchange earnings in dollars. Most of them, however, should not even be called reforms. For example, the creation of new regulatory authorities cannot be classified as reforms. Also, enforcement of limitations on government-sponsored trips cannot be considered a reform, though it can be appreciated as a step to reduce public spending. As a rule, policy debate should be based on quantifiable and achievable actions rather than aspirational claims, or else political claims in the long term can lose their essence and trust. The future of the country depends not merely on announcing reforms but on real, transformative actions that bring structural changes and unleash sources of economic prosperity for our people. THE WRITERS ARE AFFILIATED WITH PRIME, AN INDEPENDENT ECONOMIC POLICY THINK TANK BASED IN ISLAMABAD
