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The phrase "its competitiveness" is grammatically correct and can be used in written English.
It refers to the ability of something, such as a company or product, to compete successfully with others in its market or industry. Example: "Despite facing fierce competition, the company's innovative strategies have helped maintain its competitiveness in the market."
Exact(58)
In other news, Home Depot says it wants to boost its competitiveness by merging two regional divisions.
It also cited the damage to its competitiveness from the strength of the Australian dollar.
In spite of that, the market share it holds does not yet reflect its competitiveness.
First it had to work hard to improve its competitiveness as the yen strengthened.
It can perhaps start by trying to maintain its competitiveness.
It lost out to China ten years ago, but has regained its competitiveness against its Asian competitors.
Its competitiveness came at a cost.
Thirdly, France intends to improve its competitiveness.
This reduces its competitiveness significantly.
Otherwise, Japan's economy will lose its competitiveness".
Meanwhile, Greece still needs to restore its competitiveness.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com