The UAE is still one of the most important centers for attracting innovators, entrepreneurs and investors in the region and around the world by maintaining the leading position in the Middle East and among the top 20 economies According to the annual report, which monitors 190 countries.
The global rankings of Doing Business 2020 show that the UAE is ahead of all Arab countries covered by the report, ranking first in the Arab world for the seventh consecutive year.
Main themes
The report showed that the UAE achieved a leading position among the top 10 countries globally in four of the ten main axes in the report, namely: the first place globally in the ease of conducting electricity, the third globally in the ease of obtaining building permits, the ninth in the world in the contract enforcement axis, and the 10th Globally at the center of ease of property registration.
Abdullah Nasser Lootah, Director General of the Federal Competitiveness and Statistics Authority, said: “Thanks to the continuous efforts of government and federal and local institutions to support employers and private sector companies of various sizes And its specializations and sectors, in order to create an attractive and stimulating business environment for investors ».
Lootah stressed that there is no room for progress in any of the reports or indicators of global competitiveness without making improvements and procedural improvements to services provided to entrepreneurs and investors, and that is why more than 50 government officials and experts in a special executive team and throughout the year with the work team competitiveness sector in the Federal Competitiveness Authority Statistics, to develop ideas and proposals, launch programs and initiatives to improve the business environment in the country, highlight best supporting practices to facilitate business procedures and attract investments, as well as organize field visits to the World Bank headquarters in Washington, DC Tons for the exchange of experiences and national capacity-building in this area.
A leading role
The report highlighted the UAE's leading role as an inspiring country for the development and improvement of all countries in the region, and praised the efforts of government institutions in the UAE, which aims to improve the procedures and laws related to the process of establishing companies, and facilitate the procedures for local and foreign investors alike.
The World Bank report adopted four procedural improvements this year, undertaken by the State in four axes: the starting point of business activity, where the World Bank monitored the reduction of start-up fees, and the axis of building permits, where a risk-based approach was adopted to reduce the number of steps required To complete the procedure for issuing building permits. In the focus on minority investor protection, the World Bank has monitored the state's strengthening of investor minority protection through a new measure that confirms the incompetence of managers on corporate boards in cases of conflict of interest.
The fourth axis, cross-border trade, the World Bank monitored the state's facilitation of trade procedures, which was to reduce the time required to issue certificates of origin through full automation of the service, and reduce the cost of importation to merchants by enabling them to issue matching certificates covering multiple shipments.
Global Competitiveness
The Doing Business report by the World Bank and the International Finance Corporation in Washington, DC, assesses 190 countries that measure government actions that affect 10 areas of business life: starting a business, ease of obtaining building permits, easy access to electricity and property registration, Credit and protection of minority investors, non-impact of tax payments on business, cross-border trade, contract enforcement, settlement of insolvency cases.