Improvements in government efficiency and economic performance helped the UAE into the top ten most competitive nations in the world.
UAE number one in world for social cohesion and government efficiency says report
Improvements in government efficiency and economic performance helped the UAE into the top 10 most competitive nations in the world, according to the latest rankings from Switzerland's International Institute of Management Development.
The UAE is the eighth most competitive nation in the Global Competitiveness Yearbook 2013, a leap from 16th last year and 28th in 2011. It also ranked number one in the world in the areas of "Government Efficiency", "Social Cohesion" and "Attitudes and Values", a statement from the Emirates Competitiveness Council said yesterday.
"Additionally, the UAE ranked fourth in Economic Performance, fifth in Employment and sixth in Management Practices," it said.
Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, said in a statement yesterday: "This accomplishment is the fruits of labour of thousands of teams, in both federal and local government departments across the entire UAE, and constitutes a very clear message to the world that the UAE people will settle with nothing less than being number one."
Last weekend, results of the Arab World Competitiveness Report were presented at the WEF Middle East meeting in Jordan. Some Arabian Gulf countries, including Qatar and the UAE, improved their competitiveness in 2012-13, moving up the global leagues.
The UAE rose three places to 24th position, ahead of big economies such as China, Turkey and Brazil. Margareta Drzeniek, the WEF's lead economist, said that the lower ranking of the UAE reflected the fact its economy was already more diversified than Qatar or Saudi. "We regard the UAE now as an innovation economy," she added.
"Overall, the UAE's competitiveness reflects the high quality of its infrastructure, as well as its highly efficient good market. Strong macroeconomic stability and some positive aspects of the country's institutions - such as an improving trust in politicians and high government efficiency - round up the list of competitive advantages," she said.
"Going forward, putting the country on a more stable development path will require further investment to boost health and educational outcomes," she added.