Venezuela among the countries with lower competitiveness index
Due to macroeconomic instability and institutional troubles
Thursday November 15, 2012 12:02 PM
Chile is the leader of competitiveness among 18 Latin American countries, based on the Competitiveness Index established in October 2012 by the ADEN Competitiveness Institute. The information was disclosed by the higher studies institution based in Argentina, Efe quoted.
ADEN assesses 10 items to ascertain the index: met basic needs, institutional issues, infrastructure, macroeconomic stability, health, education, people expectation, market competition, efficient labor relations and technology access, the institution listed in a press release.
Venezuela and Bolivia appear at the bottom of the ranking, "with different economic and social realities, yet with common problems of macroeconomic instability and institutional mishaps." Both countries have remained in these positions from the outset of the estimates.
Oil and gas; gold and diamonds; coltan, coal, iron, bauxite, copper: the Venezuelan economy is extractive, as it relies on taking mineral substances from the earth for sale or trade.