Dhaka posts phenomenal rise in global CIP ranking
Monday, 24 November 2014
Bangladesh has made a significant leap in the Competitive Industrial Performance (CIP) country ranking, co-prepared by the United Nations Industrial Development Organisation (UNIDO) and the World Economic Forum (WEF), reports BSS.
The UNIDO and the WEF published the CIP ranking in its latest report titled "The Future of Manufacturing: Driving Capabilities, Enabling Investments". The report showed that Bangladesh advanced by 25 notches to the 77th position in 2012 from the 102nd in 1990.
Besides Poland and China, Bangladesh showed the phenomenal move in the CIP ranking. During 1990-2012, Poland and China moved up by 29 and 27 steps accordingly.
While noting the significant improvement of Bangladesh in the CIP ranking, the report also brought attention to some major challenges, suggesting that those should be addressed carefully.
"Skills and talent improvement, innovations, industrial policy and resource efficiency are four areas, which are in the common interest of government, the private sector and society," it said. "It is critical to address this convergence of interests because overlooking an advanced manufacturing strategy could lead to a lack of competitiveness within manufacturing value chain," it added.
The report said that the manufacturing sector needed to take a more proactive strategic approach to meet key challenges such as demographic shifts in the consumer market, skills gap and technological innovations.
The CIP ranking, which includes 114 countries, puts Germany, Japan, the United States, the Republic of Korea (ROK) and China at the top of the most industrially competitive nations, when the bottom five were Paraguay, Congo, Gabon, Kenya and Suriname.
Among the SAARC nations, India stood at the 44th in 2012 from the 64th in 1990. During the period, Nepal advanced to the 128th position from the 130th while Sri Lanka was next to Bangladesh at the 78th from the 93rd and Pakistan moved up to the 72nd from 74th. The CIP ranking does not include Afghanistan, Bhutan and the Maldives.
Germany tops the CIP ranking due to its high level of industrial exports while Japan's industrial competitiveness is supported by its large manufacturing base, high-tech exports as well as enhanced per capita manufacturing.