7
UAE jumps
7 positions
on the Global
Competitiveness Report
g l oba l l y
for govern-
ment
procure-
ment of advanced
technology, 2nd globally for
the effectiveness of government
spending, it also ranks 2nd for the
quality of its infrastructure in the aviation
sector and the lack of trade barriers.
The UAE also came in 3rd place glob-
ally on indicators such as citizens’ con-
fidence in government and leadership,
the absence of government bureaucracy,
the quality of ports, efficiency of customs
procedures, attracting technology through
foreign direct investment; Significantly,
for the knowledge economy, UAE ranked
3rd globally for attracting professional tal-
ent. Overall, the UAE improved its perfor-
mance in 78 indicators out of 114 in just
one year.
Sheikh Mohammed further pointed out
that the UAE has progressed in several
areas because of the hard work of federal
and local teams who are working as one,
equipped with a vision that extends to the
year 2021; our agendas and sector strat-
egies change continuously as our ambi-
tions keep growing.
“Despite the many challenges facing our
region, our main focus has been, and will
remains on progressing in our nation, and
developing our economy for the on-going
welfare of our citizens. Our message to
those around us is that the key to true sta-
bility lies in the creation of real develop-
ment,” His Highness underlined.
The UAE showed significant success in
all overarching pillars of the report, over
the last year. It ranked 2nd in up from 4th
in Basic Requirements which measures
the readiness of regulations and institu-
tions, infrastructure, health and primary
education.
In Efficiency Enhancers which evaluates
the efficiency and effectiveness of higher
education systems, labor market, finan-
cial market and technological readiness,
the UAE ranked 14th globally up from
20th, and 21st up from 24th in Innovation
and Sophistication.
The Global
Competitive-
ness
Report
assesses
144
countries on their
ability to provide high
levels of prosperity and wel-
fare to its citizens, along a se-
ries of performance indicators which
evaluates the country’s ability to provide
the suitable infrastructure for investments.
The UAE places high value on the private
sector and investors and has unremit-
tingly tried to ensure a safe environment
in which to conduct businesses. A fact that
was highlighted by the report which shows
that the UAE is among the safest places
to do business, not just in the Middle East,
but internationally as well.
The UAE’s excellent performance can be
attributed to the successful policies and
breadth of businesses which have creat-
ed a talented, highly diverse, stable, and
competitive business environment across
the country.
This is complemented by the generally
high degree of trust in government and
safety and security in the UAE. Together
these attributes have given UAE a com-
petitive advantage over several other
countries.
5
September
2014
