Singapore has been ranked second on INSEAD's Global Talent Competitiveness Index, which was jointly launched by INSEAD and its research partners, the Human Capital Leadership Institute of Singapore and Adecco. It is the only Asian country to feature in the Top 20 of the index. However, research experts say there are areas for improvement for Singapore. Kwan Chee Wei, CEO of Human Capital Leadership Institute, said that one area that Singapore should focus on is driving growth of technical and vocational skills sets. The second area, he said, is the “need to continue to welcome foreign talent and labour into the market, given that we're a very open economy, but at the same time, to draw a fine balance between making Singaporeans feel that they have a role in this global talent landscape space… And the third area, there's a lack of bottom-up entrepreneurial activity – product innovation from ground up.”