Kuwait Direct Investment Promotion Authority (KDIPA) said on Saturday that the Global Competitiveness Index (GCI) 2018, which showed in Kuwait’s annual report that Kuwait is ranked on a scale close to the best performance (0-100), the country registered 62.1 percent, up 0.5 percent from 2017.

In a statement to Kuwait News Agency (KUNA), KDIPA said that the annual report on “Global Competitiveness” is one of the most important indicators of measurement, adding that this is the 14th time in a row that Kuwait is included in the report.

KDIPA pointed out that the index witnessed a significant change this year in measuring the progress of countries in enhancing productivity, which stimulates sustainable economic growth and competitiveness within 12 pillars which fall within four topics: Favorable environment, human capital, markets and innovation systems.

Kuwait’s Ministry of Finance announced that the annual report of the (GCI) showed Kuwait’s progress to rank 54th in the world compared to last year.

The report added that the Kuwait Competitive Index (GCI) which showed that Kuwait is the world’s top economy in terms of macroeconomic stability, reflected an improvement in its ranking in 47 various pillars.

KDIPA is carrying out the project to study the promotion of Kuwait’s competitiveness in international indicators, which will result in the National Agenda for Enhancing the competitiveness of the state and follow up the coordination of national efforts in this regard through its leadership to improve the business environment and enhancing competitiveness in Kuwait.