Competition

With the exception of Greece's tourism industry, which has made a remarkable contribution to the local economy, any economic growth achieved so far has been due to measures that were introduced with the aim of reducing labor costs and, more generally, to reforms introduced in the labor market.

Turkey should digitally transform its industry to boost competitiveness, Development Minister Lütfi Elvan said on Feb. 22. 

The collapse of domestic demand during the financial crisis forced many Greek enterprises to turn to foreign markets in order to survive. Many have done so successfully, which was quite a feat given the conditions in Greece, where corporate competitiveness has been seriously compromised.

Chilean officials on Jan. 13 criticized the World Bank, saying it treated the South American country unfairly in its closely watched annual “Doing Business” competitiveness rankings.

Bank of Greece Governor Yannis Stournaras stressed at a conference on Friday that exports are likely to grow and help the economy expand further in the coming years, adding that overtaxation is one of the main factors limiting the competitiveness of enterprises and the economy in general.

Greece is suffering as a result of the major deficit in tax and regulatory competitiveness in its hotel sector, according to top officials at two of the biggest foreign groups in the sector with considerable investments in the country.

President Klaus Iohannis on Thursday awarded Chairman of the Trade Competition Council Bogdan Chiritoiu and three other competition officials Romania's Star in the rank of Knight decorations to celebrate the 20th anniversary of the Competition Council, as a token of high esteem for the significant contribution to the protection and boost of competition on the Romanian market in order to develop

The European Commission (EC) has excluded Serbia from a decision to impose anti-dumping measures and duties on imports of steel and steel products.

This will make the Chinese-owned HBIS Group steel mill in Smederevo more competitive than other exporters, Tanjug reported on Friday.

BELGRADE - Contrary to some media reports, there are no elements of recession in the Serbian economy, and 2018 growth will be at 3.5-4 pct, Finance Minister Dusan Vujovic said Wednesday.

Commenting on Serbia climbing 12 positions in the World Economic Forum's Global Competitiveness Index, Vujovic said progress had been made in many areas.

BELGRADE - Serbia ranks 78th out of 138 countries in the World Economic Forum's 2017 Global Competitiveness Index (GCI) after moving up 12 positions from last year, the Serbian Association of Managers (SAM) announced on Wednesday.

Serbia's index is 4.14 - the country's best result since 2010.