Malawi slips on global competitiveness index
Malawi has this year slumped to 129 from 117 last year on Global Competitiveness Index (GCI), according to the latest report.
This year, Malawi was ranked out of 144 economies from last year’s 142 economies.
The World Economic Forum (WEF) Global Competitiveness Report 2012/13 assessed the competitiveness landscape of 144 economies providing insights into the drivers of their prosperity and productivity.
In most cases, the report is used as a guide for investors.
The GCI has 12 pillars which are categorised into three, namely; basic requirement, efficiency enhancers and innovation and sophistication factors.
These factors are deemed to be the main determinants in productivity and competitiveness.
The survey was done in collaboration with the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and scored Malawi an overall 3.38 within the 1-7 bracket.
But MCCCI chief executive officer Chancellor Kaferapanjira, when contacted for his views, said he had not yet seen the report.
Ministry of Industry and Trade spokesperson Wiskes Nkombezi could also not comment on Monday, saying he has also not seen the report.
The report indicates that in the Eastern and Southern Africa (ESA), Malawi is ranked below South Africa, which tops the ranking in Africa, Rwanda, Botswana, Namibia and Zambia among others.
Below Malawi are Zimbabwe, Swaziland, Lesotho, Mozambique and Burundi.
Last year, Malawi slumped in the World Bank Doing Business Report that looks at the ease of doing business in 183 economies.
The Ministry of Industry and Trade is currently implementing a project on competitiveness and job creation with a loan from the African Development Bank (AfDB) to help Malawi improve its competitive position.
The project intends to improve the competitiveness of the private sector as well as increased diversification of job creation.
The GCI report, themed ‘Strengthening recovery by raising productivity’ appreciates that the world economy is fragile.
It sights global growth which has remained low for the second year running with major centres of economic activity—particularly large emerging economies and key advanced economies—expected to slow in 2012 to 2013, confirming fears that the global economy is troubled by a slow and weak recovery.
Outside Africa, the report says large emerging economies such as Brazil, the Russian Federation, India, China and South Africa are growing somewhat less than they did in 2011.
At the same time, other emerging markets—such as developing Asia—will continue to show robust growth rates, while the Middle East and North Africa as well as sub-Saharan African countries are gaining momentum.
