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UAE is more competitive than ever before
UAE moves up seven spots to rank number 12 on this year’s WEF World Competitiveness Report
September 4, 2014 11:39 by Nadine Sayegh
The World Economic Forum (WEF) releases its annual report, titled ‘World Competitiveness Report 2014’, highlighting improvements made in the country.
It is no secret that winning the bid to host the World Expo 2020 has done wonders for the UAE. The nation has been on the right track for the past few years, but with the win, the country has shifted gears, upped its game and is now one of the most competitive nations in the world.
The report states: “Overall, the country’s competitiveness reflects the high quality of its infrastructure, where it ranks an excellent 3rd, as well as its highly efficient goods markets (3rd). A strong macroeconomic environment (5th) and some positive aspects of the country’s institutions—such as strong public trust in politicians (3rd) and high government efficiency (5th)—round out the list of competitive advantages.”
This is an improvement upon last year’s report which ranked the country’s infrastructure as 5th, the goods market at 4th, macroeconomic stability at 7th and strong public trust in politicians at 3rd, the same place as this year, and finally, government efficiency at 9th.
His Highness Sheikh Mohammed bin Rashid al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, took to his official Twitter account to share the news with the people of the country.
He writes: “Today, WEF released its World Competitiveness Report 2014. The UAE came 12th among 144 countries, advancing seven ranks since last year. The UAE came 1st in absence of organised crime and inflation, 2nd in effectiveness of government spending and 3rd in trust in politicians. Also, the UAE came 1st in quality of roads, 2nd in aviation infrastructure and 3rd in absence of government bureaucracy. The UAE’s leap in competitiveness, despite turbulence in our region, is proof of our vision that development is the key to stability.”