Mongolia placed 62nd in World Competitiveness Ranking

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 The "IMD World Competitiveness Ranking 2023" published by the Economic Policy and Competitiveness Research Center was presented on June 20.

Out of 64 countries included in the World Competitiveness Report, Mongolia was ranked 62nd. The institute ranks economies based on 164 competitiveness criteria, which are grouped into four factors, including economic performance, government efficiency, business efficiency, and infrastructure. Denmark, Ireland, Switzerland, Singapore, and Netherlands were ranked as the most competitive countries. As in the previous year, Brazil, South Africa, Mongolia, Argentina, and Venezuela were named as the countries with the weakest competitiveness.

In this regard, Chairman of the Board of Directors of the Center for Economic Policy and Competitiveness Research P.Tsagaan said, “The annual report on world competitiveness is researched and processed based on a total of 335 indicators. The report shows the results of the policies and activities carried out in the direction of the country’s development. It can be considered as a unified report, mirror, criterion, and measure. Mongolia has 35.56 points out of a total of 100 points for certain indicators. This is a decrease of 0.64 points from the previous year, which is one rank behind.”

Deputy Director of the Economic Policy and Competitiveness Research Center I.Odonchimeg said, “This year’s research report shows that Mongolia is ranked 62nd out of 64 countries in the overall competitiveness ranking. Recently, new indicators have been introduced due to the effects of science, robots, and the pandemic. When the first study was conducted in 2015, Mongolia was ranked 57th. This was the highest indicator for Mongolia.”

Dashmaa D