Featuring the new Global Competitiveness Index (GCI) 4.0, the report assesses the competitiveness landscape of 140 economies, providing unique insight into the drivers of economic growth in the era of the Fourth Industrial Revolution.

In this year's Global Competitiveness Index Viet Nam dropped three places compared to the previous year at 74th out of 135 countries. However, Viet Nam scored 58.1 points in the 2018 ranking, a slight increase compared to the previous year at 57.9 points.

The WEF said that the methodology to assess economies has changed comprehensively in this year's ranking towards valuing growth based on technology.

The GCI is based on 12 pillars: institutions, infrastructure, information and communication technology adoption, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism, and innovation capacity.

The country scored the highest points in the "health" pillar at 81 points, while the "innovation capacity" got the lowest at 33 points.

Viet Nam was ranked the lowest in terms of its product market at 102nd, business dynamism at 101st and skills at 97th.

The top five competitive countries in the 2018 ranking were the U.S., Singapore, Germany, Switzerland and Japan.