world economic forum with reference to Pakistan

2. Members:
MUHAMMAD MUBEEN (R1F15MCOM0151)
INAM MUHAMMAD (R1F15MCOM0023)
MUHAMMAD KALEEM (R1F15MCOM0007)

3. Topic:
 Introduction of World Economic
Forum
 Global Competitiveness Report
2016-2017
 Pakistan’s Ranking in GCI 2016-2017

4. Introduction of World Economic
Forum
 The World Economic Forum (WEF) is a Swiss nonprofit
foundation, Cologny, Canton of Geneva. Recognized by the
Swiss authorities as an international body, its mission is cited
as "committed to improving the state of the world by engaging
business, political, academic, and other leaders of society to
shape global, regional, and industry agendas"

5. Global Competitiveness
Report:
 The Global Competitiveness Report 2016-2017 assesses the
competitiveness landscape of 138 economies, providing
insight into the drivers of their productivity and prosperity.
 Switzerland, Singapore and the United States remain the
three world’s most competitive economies.
 The Report series remains the most comprehensive
assessment of national competitiveness worldwide.

6. 12 Pillars of competitiveness:
Quality of
Institution
Higher education
& training
Technology
development
Market size
infrastructure
Goods market
efficiency
Labor market
efficiency
Business
sophistication
Macroeconomic
environment
Health & primary
education
Financial market
development
innovation

7. Explanation:
Quality of
institution
Infrastructure Macroeconomic
environment
Health and
primary
education
Protection of
property
Security
Easy trail system
(judiciary )
Quality and
availability of
transport,
electricity and
communication
infrastructure.
Objective is to
increase in
productivity
Removal of
harms in
economy
Control of
money inflation
To sustain
business cycle
To remove high
interest rates
Healthy
workforce is
important for
productivity
Increase health
facilities
Quantity and
quality of
education
Increase
literacy rate

8. Explanation:
Higher education
& training
Goods market
efficiency
Labor market
efficiency
Financial market
development
Quality higher
education eg:
Labs, research
laboratories,
experiments
Training: High
educated workers
Skills
enhancement
programs
Factors that drives
the intensity of
domestic & foreign
• Competitors
• Quality of
demand
function
Providing of
goods to market
on demand
• Incentives
provided to
Labours leads
them to
efficiency in
productivity
• Efficient use of
talent
• Gender parity
in the
workplace
Allocation of
resources in
order of
population
Efficiency,
stability and
trustworthiness
of financial and
banking system.

9. Explanation:
Technological
readiness
Market size Business
sophistication
Innovation
Adoption of
technologies by
• Business
• individuals
Technological
readiness is
directly
proportional to
FDI
• Domestic
market size
• Foreign market
size
Quality of a
country overall
business network
Quality of
individual firm
Supporting
Industies,
businesses and
Suppliers
To reduce
barriers for new
firms
Capacity for and
Commitment to
technology
innovation
Innovation in
R&D
Introducing new
products
Innovation in
existing products

10. GCI Sub Index:

11. Pakistan’s Ranking:
 Pakistan’s ranking in terms of Global Competitiveness Index
(GCI) 2016-17 has witnessed improvement by four notches
as it stood at the 122nd position in 2016-17 against the 126th
position previous year 2015-16 out of the total 138 countries,
World Economic Forum (WEF) reports.

14. Opportunities for Pakistan:
 Pakistan has shown improvements on some of the key
indicators to improve its global competitiveness, however the
country still needs to integrate itself into the digital and cyber
world. Pakistan with approx. 186 million population offers
great prospects if data and knowledge-based policy making is
introduced in the country