TT moves up ranking in Global Competitiveness Index Report

Released earlier in September, 2009, the World Economic Forum's Global Competitiveness Index Report for 2009-2010 ranks Trinidad and Tobago in a slightly better position that last year. The country moved from 92nd place out of 133 countries to 86th place this year. Switzerland leads the ranking with the USA falling to second place.

According to the report, Trinidad and Tobago has moved from a stage 2-3 Transition economy to stage 3 Innovation driven economy.

The 2009-2010 report lists Corruption and poor work ethic, amongst others as factor which are problematic for doing business. Comparison between the 2008-2009 report and the 2009-2010 report show interesting information along the lines of CSR, mainly transparency and reporting.

In examining Institutional Indicator, from the last report, Trinidad and Tobago ranked 106 out of 133 one the Ethical behaviour of firms. In the latest report, the country jumps to 76th position. This says something about the way in which TT companies conduct business. Similarly, the country shows improvement in the Strength of reporting and auditing standards moving from 45 to 32nd place. Under Efficacy of corporate boards, the country has also shown improvements moving from 99th to 56th spot. The Efficacy of legal frameworks, as the report shows, Trinidad and Tobago placed 46th.

Despite improvements in these areas, the report shows that Trinidad and Tobago has moved a few places from 62 to 66th place on the Transparency of Government policymaking.

The full report can be viewed at www.weforum.org

Commodity Index Graph

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