Slovakia loses 9 positions in WEF competitiveness ranking.

By bne IntelliNews September 8, 2011
Slovakia dropped 9 positions to the 69th place out of 142 countries in the 2011-2012 Global Competitiveness Report, released by the World Economic Forum (WEF). The country was ranked as the fourth least competitive country in the EU. According to the WEF report, the Slovak competitiveness is suffering the most from corruption, inefficient government bureaucracy and restrictive labour regulations. The factors that support the country's competitiveness are its openness to foreign investors, low customs barriers and favourable environment to foreign investors in new technologies. Robert Kicina, president of WEF partner institution Slovak Business Alliance, commented that Slovakias ranking deteriorated for fifth time in a row and the country was loosing its advantage against the other Visegrad Four countries the Czech Republic, Hungary and Poland.

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