In the previous report, Romania placed 62nd among 138 countries.
Romania scores low on indicators such as innovation and business sophistication, ranking 106th worldwide, and also on healthcare and primary education (92nd worldwide), institutions (86th worldwide) and infrastructure (83rd), according to the report.
Romania scores high on macroeconomic environment (38th worldwide), market size (41st worldwide) and technology readiness (51st worldwide).
The most problematic factors for doing business are tax rates, inefficient government bureaucracy, access to financing, inadequate educated workforce, corruption and inadequate supply of infrastructure, the report also shows.
Romania has a competitiveness index of 4.3, on a scale of 1 to 7.
Switzerland places first among the world’s most competitive countries for the sixth consecutive year, with a score of 5.86, followed by the United States (5.85), Singapore (5.7), The Netherlands (5.66), Germany (5.66), Hong Kong, known as People’s Republic of China-Hong Kong Special Administrative Region (5.53), Sweden (5.52), Great Britain (5.51), Japan (5.50) and Finland (5.49).
The report assesses factors such as performance in infrastructure, macroeconomic environment and innovation in 137 countries and regions.