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Singapore is the world's most competitive economy

by VTV430 May 2019 Last updated at 15:14 PM

VTV.vn - Singapore is the world's most competitive economy in a yearly ranking of 63 economies released on Wednesday by Switzerland-based research group IMD World Competitiveness Centre.

Singapore's return to the top spot after 9 years was due to an advanced technological infrastructure, the availability of skilled labor, favorable immigration laws and efficient ways to set up new businesses.

Hong Kong (China), the only other Asian economy in the overall top 10, held on to the second spot due to a benign tax and business policy environment, as well as access to business finance. The United States, which was last year's leader, slipped to the third position.

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