• Sat
  • Dec 20, 2014
  • Updated: 8:25pm

Competitive spirit gives strong edge

PUBLISHED : Saturday, 06 December, 1997, 12:00am
UPDATED : Saturday, 06 December, 1997, 12:00am

Finland has been ranked as the fourth most competitive country in the world in a survey by the Lausanne-based international Institute for Management Development (IMD).


Only the United States, Singapore and Hong Kong achieved a higher rating.


The survey attributed Finland's improved international competitiveness - up in the rankings from 11th last year - to high educational standards and professional skill.


The IMD considered a total of eight factors when analysing the relative competitiveness of the world's 46 most economically developed nations: the domestic economy, internationalisation, government, finance, infrastructure, management, science and technology and people.


Finland was first on the 'people scoreboard' ahead of Denmark, Norway and Canada.


While the survey suggested Finland's greatest asset to be a well educated and skilful workforce, the country also earned third place for its infrastructure, came sixth for science and technology and seventh for management.


The Government did not do badly either, rising to 14th place from last year's 30th, although the ranking in 22nd place for the domestic economy was the weakest link in the chain.


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