New principles of countries’ competitiveness adopted
The Global Federation of Competitiveness Councils (GFCC) has published new principles of competitiveness. The document was developed by the GFCC experts with the support of the Eurasian Competitiveness Institute (ECI) and the Strategy Partners consulting company.
The set of principles of countries’ competitiveness is updated annually. It captures the most pressing issues that have a direct impact on national competitiveness. They can be used to determine how a country develops, how sustainable its development is, and how its citizens feel.
This year, experts have identified the 10 most significant indicators of competitiveness. Among them is the level of cooperation between the public and private sectors of the economy.
Another important factor is the development of innovations, new business models, non-standard organizational solutions and technologies in a country. The indicator of competitiveness is also the support of talents, the human resources development, the creation of opportunities for the showing of their abilities and competencies of all demographic and social groups.
A significant indicator of the level of competitiveness is the use of unique resources and implemented projects of cities and regions, projecting the most successful initiatives throughout the country.
Experts also called as important indicators the country’s participation in the international circulation of goods, capital, information, talents and ideas, concern for the environment, reproduction of resources, development of technologies that will improve the efficiency of energy, land, water, minerals, creation of industries of the future, use of the best international practices in the field of strategy development, internal regulation, politics and business.
GFCC's Global Competitiveness Principles were first developed in 2010 and endorsed by more than 30 national competitiveness organizations. The principles of global competitiveness in 2019, created jointly by GFCC members and fellows, are the result of a deep, almost one-year discussion of key world leaders in the field of competitiveness, business, technology, entrepreneurship, politics and science. It is expected that they will stimulate new competitive strategies and support business, cities and countries in development and transformation.
