The UAE has seen robust and continuous progress in its global competitiveness ranking over the past few years from a rank of 15th globally in 2016. The steadily rising global and regional performance is driven by both government and business efficiency, as well as technological and scientific infrastructure.

 

“We have embarked on the competitiveness journey 10 years ago and the UAE today is ranked first in the region and fifth globally. Competitiveness is an endless journey. leading and top positions go always for those who spare no effort to make landmark achievements and milestones,” said His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

 

The UAE now ranks first globally for business efficiency, outshining other economies in areas such as productivity, digital transformation and entrepreneurship.

“We will not stop developing our national competencies, government services and infrastructure. We want the world’s best for our people and for all residents in the UAE,” said Shaikh Mohammad.

The IMD World Competitiveness Rankings, established in 1989, incorporate 235 indicators from each of the 63 ranked economies.

 

Globally, Singapore has ranked as the world’s most competitive economy for the first time since 2010, as the United States slipped from the top spot, while economic uncertainty took its toll on conditions in Europe.

“We are very optimistic and tolerant people. Our minds think, innovate and create and we work hand in hand to build our nation driven by our profound love for our homeland. The UAE people (Sons of Zayed) deserve the best and first ranks”, Shaikh Mohammad said.

The IMD World Competitiveness Rankings, established in 1989, incorporate 235 indicators from each of the 63 ranked economies.

 

“Every year, the UAE makes a new achievement in the way towards global competitiveness. Today, it joins the top five nations in one of the world’s most competitiveness references,” said Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future and Chairman of FCSA Board.

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The UAE’s achievement follows continues improvement in the IMD global competitiveness ranking for the past several years.

“Today, countries of the world are impressed by the comprehensive development strategy adopted by the UAE government- under the vision of the wise leadership- which is based on sustainable investment in national competencies, bolstering the culture of competitiveness and innovation in the government work and continuous modernisation of the economic and business environment and the society in accordance with the latest advanced technologies and best global practices,” said Al Gergawi.

 

IMD officials said one of the main factors driving the advancement of the UAE to the 5th position this year has been an important increase in government efficiency, particularly in terms of business legislation.