The World Economic Forum Global Competitiveness Report 2018 ranks the Dominican Republic 82nd of 140 countries. In the 2017 report, the country was ranked 104th of 137 countries. Pedro Brache, president of the National Business Council, attributed the improvement to new public-private efforts lead by the National Competitiveness Council to reduce obstacles to doing business.
The country scored best in labor market (51st), health (63rd), market size (69th), financial system (70th), and infrastructure (77th). The worst performance was measured by the indicators on institutions (99th), innovation capacity (94th), skills (90th), business dynamism (90th), product market (84th) and ICT adoption (82nd).
The institutions ranking has improved from 129th in the previous report to the present 99th. The DR, nevertheless, continues to score poorly in the institutions category, with an incidence of corruption ranking of 113th, homicide rate of 127th ranking, and reliability of police services at 131st ranking, and judicial independence scoring 125th. This confirms findings of the Transparency International Corruption Perceptions Index 2017 where the Dominican Republic is listed 135th of 180 countries.
The Global Competitiveness Report is a platform for leaders to understand and anticipate emerging economic and social trends, and to adapt policies and practices to the rapidly evolving economy and society. The Global Competitiveness Report is designed to help policy-makers, business leaders and other stakeholders around the world shape their economic strategies in the era of the Fourth Industrial Revolution.
Of the 140 countries listed, the Dominican Republic with a 57.4 score is ranked 82nd, only above Ecuador (55.8), Paraguay (53.4), Guatemala (53.4), El Salvador (52.8), Honduras (52.5), Nicaragua (51.5), Venezuela (43.2) and Haiti (36.5) in Latin America and the Caribbean. The top five best performing Latin American and Caribbean countries are: Chile (70.3), Mexico (64.6), Uruguay (62.7), Costa Rica (62.1), and Colombia (61.6).
The Dominican Republic’s island neighbor, Haiti is ranked lowest in the survey in corporate governance, and overall 138th of 140 countries, with its institutions ranked 138th, too.
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Listin Diario
22 October 2018
