Latest update May 6th, 2026 12:15 AM
Latest News
- Motorcyclist killed in East Bank Highway collision
- Bids opened for construction of Biomedical Engineering Department
- Justice Cummings-Edwards sworn in Chief Justice of Turks and Caicos
- ‘One Guyana key to unity’ – Pres. Ali in Arrival Day message
- Anti-bullying policies to be standardised for schools – Education Minister
Global Competitiveness Report says Guyana improved
Three of the four English-speaking Caribbean countries surveyed in the World Economic Forum (WEF) Global Competitiveness Report (GCF) have reportedly been making positive strides with their ranking.
Guyana, Barbados and Trinidad and Tobago moved up in the list of 133 countries, while the fourth Caribbean nation, Jamaica, slid a few positions.
Guyana made the greatest stride, moving from 115 last year to 104 this year; Barbados moved slightly up from 47 to 44; and Trinidad and Tobago jumped up from 92 to 86.
It was reported that in light of the global economic problems, “the competitiveness landscape described by the Global Competitiveness Index (GCI) this year for Latin America and the Caribbean is fairly encouraging.”
GCR rankings are based on publicly available data and an Executive Opinion Survey carried out by the WEF.
According to the report, for 2009 to 2010, in the context of the present recession, the competitiveness performance of top-performing countries on average has declined.
This, the report suggests, implies that in many cases countries that improve in the rankings do so by maintaining a performance across the various indicators similar to that of past years.
The countries that constitute the top 10 remain the same as last year, with some changes in rank among them. Switzerland overtakes the United States this year as the world’s most competitive economy.
As part of the survey, respondents were asked to select the five biggest problems in doing business in their country.
The issue of poor work ethic also featured prominently in assessing Barbados where it was the biggest problem. It was the same with Guyana. Accessing finance, inefficient government bureaucracy, restrictive labour regulations and inflation were the other worries in Barbados.
The other top concerns about the Guyana’s situation were tax rates, crime, corruption and access to finance.
These factors have been lamented in the media time and time again by local politicians in forums such as budget debates.
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.