Indonesia Improves in World Competitiveness Ranking

Jul 2021

Indonesia has jumped three places in a global competitiveness ranking in 2021 thanks to its economic resilience amid the Covid-19 pandemic, the improvement in government efficiency, and rising confidence among its businessmen, Switzerland-based International Institute for Management and Development, or IMD, announced in June 2021.

The largest economy in Southeast Asia moved up three places to 37th among 64 economies assessed by the institute based review on recent statistical data and interviews with business executives operating within their respective territories.

“Indonesia improved its overall competitiveness ranking by 3 positions in 2021 thanks to improvements in business efficiency, economic performance (despite the difficult economic conditions), government efficiency (specifically, some enhancements in business legislation), and for an increase in business confidence among Indonesian executives,” Christos Cabolis, the chief economist at the IMD World Competitiveness Center, said.

(Sources: IMD; Jakarta Globe)

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