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Davos Report: UAE is the first in the world in macroeconomic stability

2019-10-09T04:13:13.260Z

The UAE ranked first in the Arab world and 25 globally, in the Global Competitiveness Report 2019 issued by the World Economic Forum (Davos), which assesses the competitiveness of 141 countries. The figures in this year's report pointed to the UAE's leading position



The UAE ranked first in the Arab world and 25 globally, in the Global Competitiveness Report 2019 issued by the World Economic Forum (Davos), which assesses the competitiveness of 141 countries. The figures in this year's report indicate that the UAE is ranked first in the Arab world and the 25th globally, noting that the UAE is two places ahead of the previous year.

The Minister of Cabinet Affairs and Future Chairman of the Board of Directors of the Federal Competitiveness and Statistics Authority Mohammed Abdullah Al Gergawi said that the Global Competitiveness Report 2019 issued by the World Economic Forum, confirms the important role played by the Authority with its partners in the federal and local government, through joint work and continuously to keep pace with the changes that occur On the economic and social levels, which can have an impact on the global competitiveness of the state by identifying and launching effective and scientific and knowledge-based initiatives and strategies to maintain the country's leadership Global competitiveness data.

He added: "We are following the approach set by the President of the UAE, His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai," to work tirelessly and perseverance. To improve performance in all global competitiveness indicators, especially those related to achieving the UAE Centennial Vision by improving legislation and developing procedures, and adopting innovation to continue progress in the global competitiveness ladder and to achieve the vision of good leadership and sustainable development in all sectors related to competitiveness indicators. '

Abdullah Lootah, Director General of the Federal Authority for Competitiveness and Statistics, said: “The UAE government attaches high priority to the continuous improvement process of all its vital sectors, such as economy, health, education and advanced sciences, through which the UAE economy is ranked among the advanced global economies. Stressing the continuity of the structural economic development witnessed by the UAE recently through legislations and decisions that have affected the various economic, administrative and institutional aspects, which contribute to accelerating the pace of growth of economic activities in the UAE In the strategy of economic diversification and support an economic environment attractive to investment and investors. "

The Global Competitiveness Report 2019 monitors the economy of 141 countries ranked by performing 103 indicators listed in 12 core and 22 sub-themes. The assessment is based on 70% of the report's weight on the data and statistics issued by the countries included in the report and the remaining 30% comes from the results of opinion polls and executive and senior investors in these countries, this report shows the satisfaction of the private sector with government services and the positive impact of incentives and facilities that have been Announced successively at the federal and local level.

The UAE has made remarkable progress on the level of indicators, where it advanced in 52 competitive indicators from last year, and maintained its performance in 27 indicators out of 103 competitive indicators monitored by the report. The UAE ranks among the top five in 19 global indices and in the top 20 globally in 57 indices, more than half of the indicators this year.

At the level of the main and sub-axes, the UAE ranked first globally in the "Stability of the national economy" and second globally in the "axis of adoption of ICT" and fourth globally in the "commodity markets axis". The UAE has also advanced in eight of the 12 main axes: Institutions, Infrastructure, ICT Adoption, Education and Skills, Commodity Market Efficiency, Labor Market Efficiency and "Business Dynamics" and "Capacity Innovation" axis.

At the level of sub-axes, the country has also achieved advanced positions at the global level, where the country came in the top ten globally in seven sub-axes, including the fourth in the world in the "performance of the government sector" and the sixth globally in the "axis of local market competition" and the seventh in the world In both the "security" axis and the "commercial openness" axis, the eighth globally in the "entrepreneurial culture" axis and the "transport infrastructure" axis and the ninth globally in the "future direction of government". The country advanced on 17 out of 22 sub-themes in 2019.

Among the indicators that the UAE achieved in this year's report ranked high, the country ranked first in the world in four indicators, namely, "the lack of annual change in inflation", the "debt dynamics", the indicator "mobile Internet subscriptions" and the "gap gap" Credit. " The UAE ranked second globally in the “Rate of Electricity Contributions from Population Ratio”, “Mobile Subscription Ratio” and “Manpower Diversification” Index, and “Third in the Speed ​​of Government Response to Variables”. Globally in the “Efficiency of Legal Frameworks”, “Low Government Burden”, “Adaptation of Legal Frameworks to Understand Digital Business Model”, “Long-Term Government Vision”, “Fiber Optic Internet Subscriptions”, “Wages and Productivity” and “ Availability of venture capital. " It also ranked fifth globally in the Internet Users Index, the Low Impact of Taxes and Subsidies on Business Competition index and the Innovative Growth Index.

The UAE has also managed to rank among the top 20 countries globally in 57 global indices, including the sixth globally in the “Efficiency of the Legal Framework in Dispute Resolution” and the 7th globally in the “Low Impact of Organized Crime on Business” and “ Road Quality, Air Transport Services Efficiency, Entrepreneurship Risk Behavior Index, 8th globally in Government Assurances for Stability of Government Decisions, Ease of Finding Skilled Employees, Analytical Thinking in Teaching, and 9th place Globally in both "low drag" index Im killing "index" lack of burden of non-tariff barriers "index" employment and dismissal procedures "index" financing of small and medium-sized companies index "index" the development of specialized economic zones "index" companies accept innovative ideas. "

Singapore ranked first globally in this year's report, having moved up one place from last year's ranking to displace the United States, second in the world, Hong Kong in third place, the Netherlands in fourth and Switzerland in fifth. Japan came in sixth place, followed by Germany in seventh place, then Sweden and the United Kingdom Denmark in eighth, ninth and tenth globally.

The Global Competitiveness Report issued by the World Economic Forum (Davos) in Switzerland has become one of the most important global reports, as it aims to help countries around the world to identify obstacles to sustainable economic growth and develop strategies to reduce poverty and increase prosperity and assess their ability to provide high levels of prosperity It is a report that provides a comprehensive assessment of the strengths and challenges of state economies.

Source: emara

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