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Post: Global Competitiveness Report 2019 – How the Cyprus-Israel partnership may support economic growth and improve the competitiveness of the innovation ecosystem

The World Economic Forum has published the latest version of the annual Global Competitiveness Report, featuring the Global Competitiveness Index (GCI) 4.0 rankings.

Cyprus has ranked 44th out of 141 economies, whilst Israel ranked 20th.

The GCI allows for assessing progress against an array of factors determining productivity. These are organized into 12 pillars: Institutions; Infrastructure; ICT adoption; Macroeconomic stability; Health; Skills; Product market; Labour market; Financial system; Market size; Business dynamism; and Innovation capability.

Israel is a top performer in several areas within the ‘Innovation Capability’ and ‘Business Dynamism’ pillars. In specific, Israel is leading the rankings in ‘Entrepreneurial Culture’ / ‘Growth of Innovative Companies’ / ‘Companies Embracing Disruptive Ideas’. This comes as no surprise for the Start-Up Nation.

Building bridges and strengthening cooperation between Cyprus and Israel -not only at institutional but also at B2B & P2P levels- supports competitiveness growth in the areas of innovation and entrepreneurship in Cyprus.

Indicative examples of concrete steps forward:

  • Official visits, stakeholder consultations and exchange of knowledge and best practices with prominent leaders of the Israeli ecosystem, such as Eugene Kandel, CEO of Start-Up Nation Central (Q4 2017) and Aharon Aharon, CEO of Israel Innovation Authority (Q1 2019)
  • Facilitating bilateral and trilateral workshops with the participation of experts from academia/government/private sector in areas of common interest (including and not limited to: Aquaculture, Agriculture, Water and other)

Equally zealous, we are looking forward to continue working hand-in-hand with Cypriot and Israeli partners, to further advance economic relations between our countries and to deliver positive societal impact.

/S.P

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