Uganda has slipped by 10 places to the 113th position in business competitiveness, according to the 2006-2007 Global Competitiveness Report quoted by Daily Monitor on Wednesday.

According to the report published by the World Economic Forum ( WEF), Uganda now trails her east African counterparts Kenya and Tanzania, which occupy 94th and 104th positions respectively.

Switzerland, Finland and Sweden are the world's most competitive economies out of the 125 surveyed by the WEF. Meantime, South Africa remains the top performer of the sub-Sahara region by ranking 45th in all.

The report draws the rankings from a combination of publicly available hard data and the results of the Executive Opinion Survey, a comprehensive annual survey conducted by WEC, together with its network of partner institutes in countries covered.

The report indicates that in poor performing countries, business activity is affected by a weak institutional framework, characterized by loopholes in the rule of law, and low levels of transparency and accountability within public institutions.

Coming up with the Global Competitiveness Report, the competitiveness index looks at basic requirements like infrastructure, efficiency enhancers and innovation factors among others.

Although sub-Saharan Africa has experienced high growth over the past few years, noted the report, the results of the Global Competitiveness Index suggest that this trend may not be sustainable.

Source: Xinhua