Bosnia climbs to 102nd place in terms of global competitiveness.

By bne IntelliNews September 10, 2010
Bosnia climbed 7 positions to 102nd place in terms of competitiveness among 139 countries, with a score of 3.7pts (out of 7pts) at the global competitiveness index (GCI), the 2010-2011 Global Competitiveness Report of the World Economic Forum revealed. In regional comparison, the country was outperformed by Montenegro (49th place, 4.36pts of GCI), Croatia (77th, 4.04pts), Macedonia (79th, 4.02pts), Albania (88th, 3.94pts) and Serbia (96th, 3.84pts). The most problematic factors for doing business in the country include the access to financing (13.5% of those polled), tax rates (11.8%), the inefficient government bureaucracy (11.5%), corruption (9.2%), tax regulations (9.1%), government instability (8.6%) and policy instability (7.5%), among others. Poor public health and inflation were cited as important, but comparatively minor problems hindering competitiveness in the country. Bosnia is seen to have notable competitive advantages in only 16 areas, among which hiring and firing practices (where it ranked 10th), inflation (14th), business cost of terrorism (18th), tax rate (23rd), quality of math and science education (36th), flexibility of wage determination (40th), government debt (44th) and interest rate spread and quality of electricity supply (48th in both areas). Major competitive disadvantages included the ethical behaviour of firms, the protection of minority shareholders' interests, the quality of overall infrastructure, the efficiency of the legal framework in settling disputes and in challenging regulations, the extent of staff training and of market dominance, among others.

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