UAE jumps 7 positions on WEF’s Global Competitiveness Report

(Dubai) – His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, affirms that the UAE under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, is advancing steadily and dramatically across development indicators, reflecting the areas where our economy is progressing … notably, security and stability indicators are among the best in the world… and the welfare of our citizens is our first priority. His Highness also added that the UAE government is constantly monitoring these global indicators issued by reputable international organisations . Retreating is not an option in our government.
His Highness’s comments came in the wake of the results of the Global Competitiveness Report issued by the World Economic Forum in 2014- 2015 in which the UAE advances 7 places in the overall competitiveness of its economy within just one year, becoming the 12th most competitive nation globally, ahead of countries such as Denmark, Canada and South Korea. The UAE impressively leads globally in a number of indicators: 1st globally in quality of the roads and the absence of organized crime, 1st globally for having the lowest rate of inflation, 2nd globally for government procurement of advanced technology, 2nd globally for the effectiveness of government spending, and the impact of taxes on investment and the lack of trade barriers; it also ranks 2nd for the quality of its infrastructure in the aviation sector. The UAE also came in 3rd place globally on indicators such as citizens’ confidence in government and leadership, the absence of government bureaucracy, the quality of ports, efficiency of customs procedures, attracting technology through foreign direct investment (FDI); Significantly, for the knowledge economy, UAE ranked 3rd globally for attracting professional talent. Overall, the UAE improved its performance in 78 indicators out of 114.
(Courtesy WAM)