Take a bow, Prime Minister Lee Hsien Loong. Singapore ranks first in the world in public trust in politicians, transparency of government policy making, efficiency of the legal framework in settling disputes, and the quality of math and science education. That’s according to the Global Competitiveness Report 2012-13 by the World Economic Forum.
Switzerland is first and Singapore second again in the global competitiveness rankings this year, same as last year. Finland is third, Sweden fourth, the Netherlands fifth, Germany sixth, the United States seventh, the United Kingdom eighth, Hong Kong ninth and Japan 10th. Qatar is 11th, Denmark 12th, Taiwan 13th, Canada 14th, Norway 15th, Austria 16th, Belgium 17th, Saudi Arabia 18th, South Korea 19th, Australia 20th, France 21st, Luxembourg 22nd, New Zealand 23rd, the United Arab Emirates 24th and Malaysia 25th. China is 29th and India 59th.
The report says:
Singapore retains its place at 2nd position as a result of an outstanding performance across the entire Index. The country features in the top 3 in seven of the 12 categories of the Index and appears in the top 10 of three others. Its public and private institutions are rated as the best in the world for the fifth year in a row. It also ranks 1st for the efficiency of its goods and labor markets, and places 2nd in terms of financial market development. Singapore also has world-class infrastructure (2nd), with excellent roads, ports, and air transport facilities. In addition, the country’s competitiveness is reinforced by a strong focus on education, which has translated into a steady improvement in the higher education and training pillar (2nd) in recent years, thus providing individuals with the skills needed for a rapidly changing global economy.
Singapore ranks third in the quality of the education system, 12th in the quality of scientific institutions and 20th in the capacity of innovations.
Singapore is second in the quality of overall infrastructure and third in the quality of roads.
Singapore is second in labour-employer relations and first in mobile broadband subscriptions.
Inflation is seen as the most problematic factor for doing business.