Romania ranks 67th of the 137 countries included in the world competitiveness report issued by the World Economic Forum. The country is down three places compared to the previous ranking.

The lack of transparency for Government decisions and the quality of infrastructure are the areas were Romania scored the lowest, according to the Group of Applied Economics (GEA), which was a partner in creating this report.

Bulgaria, Latvia and Greece were the only EU member states which came after Romania in the top, with the latter two being seriously affected by the world crisis.

The most problematic factors for doing business in Romania are, according to the report, tax regulation, political instability, lack of access to financing, tax rates and the inefficient government bureaucracy.

Romania has a number of competitive advantaged highlighted in the report: quality of math and science education, tertiary school enrollment, domestic market size, personal computers and broadband internet subscribers, mobile telephone subscriptions, legal rights index, pay and productivity, firing costs, buyer sophistication, time and procedures required to start a business, among others.

Get the entire report section about Romania here.Romania- World Competitiveness Report

Switzerland ranks first in the global competitiveness top, followed by Sweden, Singapore and the US, which has fallen three places from the first position. The report is based on data from 2009.

romania-insider.com