Baku/27.09.17/Turan: Azerbaijan has improved its position in the ranking of competitive countries for the year, rising from 37th to 35th place, according to the Global Competitiveness Index 2017-2018, prepared by the World Economic Forum (WEF).
This result was obtained on the basis of analysis of the economies of 137 countries by the WEF expert in three main categories - basic requirements, efficiency enhancers, innovative factors. The categories included 12 spheres (public institutions, infrastructure, macroeconomic environment, healthcare and primary education, higher education and vocational training, goods and services market, labor market, financial market sophistication, technological level, market size, companies competitiveness, innovations).
Azerbaijan is ahead of Russia (38th place), and its regional neighbors: Turkey ranks 53rd, Iran 69th, Georgia 67th, Armenia 73rd.
The best indicators were achieved in the areas of: labor market efficiency, institutionalization, innovative factors, business sophistication, commodity market efficiency.
The worst results: the macroeconomic environment, health and primary education, the development of the financial market, higher education and training, the size of the market. -0-
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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