UAE’s leap in 2017 World Competitiveness Report signals strength

Sultan bin Saeed Al Mansouri, Minister of Economy, said that the UAE’s significant leap in the 2017 World Competitiveness Report and its place on the top 10 list of countries in the competitiveness index send out a clear message about the strength of the UAE economy and its regional and international leadership that provides an environment that encourages business and investment sustainability.

The country’s advancement by five places in the general index of the report while occupying the first position in the region and the Arab world in competitiveness, is further proof of its clear strategic vision and efficient development policies, as well as its effective sustainable model for moving up the ladder of international leadership, he added.

Al Mansouri said that the results of the report’s indexes gave an important impression of the UAE’s efficient policies and procedures, strengthening its sustainable economic and social development. The country was also placed fifth internationally in the category of economic performance, second in the category of the business sector efficiency and fourth place in the category of government efficiency. It also took first place in numerous sub-indexes of these categories, he further added.

He stressed that these exceptional accomplishments are the inevitable result of the vision and directives of the wise leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, as their wise directives were the first incentives for launching these efforts, strengthening co-operation and combining the roles of various national authorities, which contributed in achieving these excellent results that represent a source of pride for the UAE.

"We see the results from the various categories of the World Competitiveness Report of the International Institute for Management Development, which we consider as an international assessment of the country’s success and advancement in various fields related to competitiveness. It is also a launch pad and road map for further evaluation and the future planning of our sustainable development until the UAE has reached the highest position in world competitiveness, as stated by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum," he added.

"If we consider the challenges witnessed by many regional and international economies, which have severely affected their growth and competitiveness, and we observe the effects of economic uncertainty and the turmoil witnessed by other countries in the region and the world, we realise that the UAE’s results have gained extra importance, as the success of its development policies was not only about overcoming challenges but it has also surpassed that, achieving international leadership and advancement," Al Mansouri further added.

He stressed that the excellent results in the competitiveness index are in line with the continuous efforts by various relevant national authorities, under the framework of the UAE Vision 2021 and the efforts to build a competitive global economy, which is diverse, knowledge-based and innovative based on leading national standards. These efforts continue to strengthen the country’s economic diversity while developing highly productive sustainable sectors and encouraging advanced technology, as well as continually developing the infrastructure and updating the legislative and organisational frameworks, which encourage the growth of businesses, investments and diverse commercial activities, he added.

Al Mansouri concluded his statement by highlighting the ongoing national efforts to improve the competitiveness of the UAE, to take its deserved position at the top of the world’s leadership ladder in the various fields of competitiveness.

source: WAM