H.E. Ashraf Al-Araby, Minister of Planning, Follow-up and Administrative Reform; Omneia Helmy, the Egyptian Center for Economic Studies
Competitiveness is how countries create the best economic, social and environmental conditions for economic development. The aim of this roundtable was to launch the 2014-2015 Global Competitiveness Report (GCR) in Egypt and attempt to formulate a vision for the future of the Egyptian economy based the results of the report. The GCR is based on an index used by the World Economic Forum (WEF) to evaluate how 144 countries fare on competitiveness. Evaluation is based on their performance on 12 pillars of competitiveness: institutions, infrastructure, macroeconomic stability, health and primary education, higher education, goods market efficiency, labor market efficiency, financial market sophistication, technological readiness, market size, business sophistication and innovation.
To calculate a country’s competitiveness index, these pillars are weighted depending on the stage of development that a country falls into based on GDP per capita and the ratio of mineral exports to total exports. Egypt’s classification as an efficiency-driven economy places the bulk of weight on efficiency enhancers.
ECES is a partner institute of WEF in the preparation of the Global Competitiveness Report.