Economic Development Minister Steven Joyce says the improvement reflects the work the government is doing to reduce costs for businesses. Photo / Brett Phibbs
Economic Development Minister Steven Joyce says the improvement reflects the work the government is doing to reduce costs for businesses. Photo / Brett Phibbs
New Zealand is the 13th most competitive nation in the world, according to the latest global survey.
That means it's moved up three places since last year and 10 places since 2012.
Economic Development Minister Steven Joyce says the improvement reflects the work the government is doing to reduce costsfor businesses.
The Global Competitiveness Index ranks countries' economic competitiveness based on economic data and business surveys.
New Zealand is in the top six countries for lack of corruption, ease of starting a business, legal rights, transparent policy making, soundness of banks and access to loans.
Joyce says the government's Business Growth Agenda programme supports an environment where businesses have the confidence to invest, grow and create more and better paying jobs.
BusinessNZ chief executive Kirk Hope says New Zealand's overall high ranking reflects the strength of the country's economic fundamentals. He said areas which could be improved included research and development spending, technology uptake and local competition.