Is Georgia Ready For The Future?
The World Economic Forum has published a new research, which is meant to find out to what extent are different countries are ready for future and manufacturing, with the development of new technologies.
WEF states that the Fourth Industrial Revolution is picking up steam and private and public sectors are facing a new challenge, which is about the “future of manufacturing”.
The research assesses countries by means of various indicators, one of which is “Drivers of Production”, in this criterion, Georgia rates 54 with 4,9 points of 10.
Georgia’s ratings in different criteria are as follows:
Technologies and innovations – Georgia rates 32 of 100 countries with 5 points. United States of America is number 1 in this criterion, followed by United Kingdom and Switzerland – these countries are best prepared technologically for development of production in future.
Human capital – Georgia rates 71 with 4,5 points. In this criterion, Georgia holds the worst positions in terms of migration and on-the-job trainings in companies and is number 99 – just one position away from being the last.
International trade and investments – Georgia rates 47 with 5,5 points. Georgia’s best position in this criterion is in the trade tariffs sub-criterion, which makes it number 4 in the world. In the logistics criterion Georgia’s got the lowest score and is in 98th place.
Institutional framework – with 4,9 points Georgia rates 49. In different sub-criteria, Georgia’s positions are following: effectiveness of regulations – 11th position, corruption cases – 33rd position, future-oriented government – 60th position, the rule of law – 45th position.