ZAMBIA has been ranked among the top 10 most competitive economies in sub-Saharan Africa, according to the latest edition of the global competitiveness report by the World Economic Forum (WEF).
And Government has welcomed the development while cautioning against complacency about the positioning.
The Global Competitiveness Report 2015-2016, which assesses the competitiveness of 140 world economies, has placed Zambia at 7 in Africa, with Tourism said to be a key boost.
Using a mixture of quantitative and survey data, it ranks countries overall by combining 113 indicators grouped under 12 pillars of competitiveness.
These include institutions, infrastructure, macro-economic environment, health and primary education, higher education and training.
Other indicators are goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
And Minister of Commerce, Trade and Industry Margaret Mwanakatwe has welcomed the development but cautioned against complacency.
Mrs Mwanakatwe also described the grading as a “good ranking” for Zambia because the country is ahead of other sub-Sahara African countries and among some big economic giants on the continent.
She said in an interview yesterday that the development is an opportunity to improve Zambia’s competitiveness as there is room to do so both at regional and continental levels.
“We just don’t have to be complacent; we have room to improve because we are also taking better positions in different regions like Southern African Development Community and Common Market for Eastern and Southern Africa. We hope we don’t drop any point but keep improving,” Mrs Mwankatwe said.
The Global Competitiveness Report’s competitiveness ranking is based on the Global Competitiveness Index (GCI), which was introduced by the World Economic Forum in 2004.
Defining competitiveness as a set of institutions, policies and factors that determine the level of productivity of a country, GCI scores are calculated by drawing together country-level data covering 12 categories.