Mexico advances in competitiveness

Competitiveness

The International Institute for Management Development unveiled its study “2015 World Competitiveness Yearbook”.

Mexico shows an improvement in competitiveness issues, advancing place 41 to 39 in the annual IMD competitiveness ranking.

Mexico City, May 28, 2015.-Results of new reforms structural carried out, Mexico was favored with a better economic performance over the previous year, creating better laws on competition, lower capital costs and greater access to venture capital, among other factors.

The International Institute for Management Development (IMD), Switzerland and Singapore based business school, published yesterday its “2015 World Competitiveness Yearbook”, where it is noted that Mexico was the only Latin 7 American countries evaluated which improved on its position, as even Chile, only country in that region that beat Mexico, fell from place 31 to 35.

Despite having advanced, Mexico still does not return to the site 32 in 2013, and they continue to weigh against factors such as a low level of education, little international trade, and poor infrastructure.

Mexico spent 41 position 38 in business efficiency, remained in position 41 in government efficiency, fell 18 to 19 in economic performance.

José Caballero, the IMD researcher and spokesman for the report, said that behind the increase in the position of Mexico was mainly his improvement in the evaluation of business efficiency, which is measured with sub-factors as productivity and efficiency, where the country advanced 11 places to the site 36.

The main area of opportunity for Mexico, added the researcher, still in their educational level. In regards to Latin American countries, Chile went from 31 to 35; Peru from the 50 to the 54; Colombia was unchanged at 51; Brazil fell from 54 to 56; Argentina fell from 58 to 59, and Venezuela remained in the 60s.

The IMD is within the top 10 schools of business in the world and its competitiveness study is a global benchmark. The overall standings was led by United States, followed by Hong Kong, Singapore, Switzerland, and Canada.

The results were obtained using 256 variables: 138 statistical data of global, regional and local institutions and 118 qualitative variables from a survey applied to executives and national and international experts.

In a disaggregated way, Mexico achieved its best positions, 60 countries evaluated, in hours worked, stability in the exchange rate, threats of relocation of services in research and development centers and cost of living index.

Mexico has benefited by the reforms and the macroeconomic aspect, said Carlos Maroto, of the CEEC.

Among his challenges, according to the CEEC, Mexico must adjust their Government spending as a result of lower oil prices, avoiding that it rises the debt and taxes; promote greater economic growth; improve the regulation of competition and justice security and promote more public investment in infrastructure.

Mexican Business Web

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