AP signed MoU with WEF to support state in assessing its competitiveness


Who: MoU between AP & WEF
Where: New Delhi
What: Signed
When: 4 November 2015
Why: To support state in assessing its economic competitiveness

Government of Andhra Pradesh on 4 November 2015 signed a Memorandum of Understanding (MoU) with the World Economic Forum (WEF) to support the state in assessing its economic competitiveness.

The MoU was signed in the presence of the State Chief Minister N Chandrababu Naidu and WEF Managing Board member Philipp Rosler in New Delhi.

As per the MoU, the WEF will assist the state in assessing its economic competitiveness-both strengths and weaknesses.

The assessment is aimed at leveraging the key role played by the data driven and evidence based policy making and will employ the Global Competitiveness Index (GCI).

Accordingly, the WEF will provide technical support and training the government staff on GCI methodology, data collection and interpretation of results.

The GCI based assessment is comprehensive as it takes into account 12 parameters-Institutions, infrastructure, macroeconomic stability, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial sector development, technological readiness, market size, business sophistication and innovation.