Reem Al Hashimy, Minister of State and Chairwoman of the Emirates Competitiveness Council has said on-going government investment in infrastructure, education, knowledge industries as well as the reforms and improvements to the business environment are key pillars in the government’s strategy for better future competitiveness.
According to the IMD World Competitiveness Yearbook 2012, the UAE jumped 12 places — from 28th in 2011 to 16th — in the annual report, which ranks the world’s 59 most advanced countries. UAE had the greatest ranking increase of any country surveyed.
“We are especially pleased with this year’s results as the IMD World Competitiveness Yearbook is one of the most comprehensive annual global reports on advanced countries’ competitiveness. The fact the greatest ranking improvements were in business efficiencies, namely productivity, management practices, and attitudes and values make these improvements all the more significant, given our peers”, the minister said.
Al Hashimy added: “We could not have achieved these outcomes without the collaboration of federal and local entities and government bodies working to improve the competitiveness of the country.
Abdullah Lootah, Secretary General of the Emirates Competitiveness Council noted: “UAE’s ranking can be attributed to the successful policies and breadth of businesses which have created a highly diverse, stable, and competitive business environment across the UAE. In addition, the generally high degree of safety and security in the UAE give it a comparative advantage to other countries in the region.”