Cameroon is ranked 115th in the 2013-2014 Global Competitiveness Report that assesses the competitiveness landscape of 148 economies, providing insight into the drivers of their productivity and prosperity. The report, the 34th edition, published recently shows that the country has dropped three places from the 2012-2013 report in which it was classified 112 of the 144 economies surveyed.
The set of institutions, policies and factors that determine the level of productivity of a country through which its competitiveness is measured in the report include, institutions (legal and administrative framework within which individuals, firms and governments interact to generate wealth), infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, innovation and business sophistication.
The country’s report card shows a 3.68 score out of the overall 7 points under consideration. The report notes in descending order that the most problematic factors of doing business in the country are corruption, access to financing, inadequate supply of infrastructure, tax regulations, inefficient government bureaucracy, tax rates, poor work ethics in national labour force, theft and crime as well as inadequate trained workforce, among others. Poor performance were recorded in international internet bandwidth where it is placed 146th, internet access in schools (135th) as well as strength of auditing and reporting standards (132nd position of the 148 economies). Her best performance however came from setting up business wherein the country is classed 30th of the 148 economies surveyed. Significant strides were also recorded in government’s budget balance (40th position), general government debt (15th spot) as well as government’s procurement of advanced technical products (38th position).
South Africa is a lead economy in Africa on the 53rd spot down from 52nd in the last edition. The 2013-2014 report notes that South Africa’s social sustainability is undermined by high income inequality and youth unemployment.
Chad leads the chart from the underside on 148th spot down from 139th position it occupied in the previous report. Meanwhile, Switzerland, Singapore, Finland, Germany, USA, Sweden, Hong Kong, Netherlands, Japan and United Kingdom respectively occupy the first ten positions.