24.8 C
Dubai
Monday, March 4, 2024
spot_img

Maintaining Economic Competitiveness: The UAE’s Strategy for Sustaining Its Leadership Position-1

Strategy The UAE’s continuous success across vital sectors, encompassing a robust economy and an increasingly appealing investment environment, solidifies its position as the Arab world’s most economically competitive nation.

AMF’s Acknowledgment of Excellence

According to the Arab Monetary Fund (AMF), the UAE excels in various international indices, securing its top position in the government financial sector index and leading in the deficit/surplus to GDP ratio. It also claims the second spot in the tax burden index.

Regional Dominance in Investment Attractiveness: Strategy

The AMF index further highlights the UAE’s regional dominance, ranking first among Arab nations in investment environment and attractiveness. The country’s advanced standing in the economic freedom index is a testament to its comprehensive excellence in all sub-indices.

Infrastructure Triumph and Global Recognition

The UAE’s supremacy extends to infrastructure, where it leads in mobile phone subscriptions and population access to electricity. Additionally, globally, the UAE secures the 10th position in the IMD World Competitiveness Booklet 2023, maintaining its first-place standing in the Middle East and North Africa region for seven consecutive years.

Versatile Excellence Across Fields

The IMD report recognizes the UAE’s excellence in international trade, city management, energy infrastructure, government policy adaptability, and overall economic performance. Impressively, the country ranks fourth in the world.

Talent Magnet and Visa Reforms: Strategy 

Leading the Arab world in talent attraction and retention, the UAE secures the 22nd position globally in the 2023 IMD World Talent Ranking. Visa program overhauls, including the revamped 10-year golden visa and the introduction of the green visa, enhance opportunities for foreign workers.

Industrial Ascendancy and Global Recognition

Recording remarkable performance in the Competitive Industrial Performance Index (CPI), the UAE claims the top spot in the Arab region and secures the 29th position globally, as per the United Nations Industrial Development Organization.

Exemplary Governance and Institutional Leadership: Strategy 

Acknowledged by the AMF, the UAE takes the lead among Arab nations in institutional and good governance sectors, showcasing advanced rankings in administrative corruption and government efficiency indices.

Regional Strategies for Enhanced Competitiveness

The broader regional context sees various Arab countries adopting national strategies to enhance productivity, improve goods efficiency, and focus on productive sectors. Initiatives include developing service sectors, fostering business-friendly environments, and enhancing infrastructure to overcome competitiveness challenges.

Also Read

Real Estate Transactions in Sharjah Reach Dh2.6 Billion in November

Paid Parking Coming Soon to Dubai Mall’s Salik System-1

Related Articles

Sharjah’s Powerful $750 Million Sustainable Bond Issuance

Sharjah's Triumphant $750 Million Sustainable Bond Launch The Government of Sharjah has achieved a significant milestone with the successful issuance of a $750 million 12-year...

UAE Achieves a Pioneering Economic Milestone, Thriving Prosperity

UAE Economy Achieves Unprecedented Milestone The United Arab Emirates (UAE) has achieved a significant milestone in its economic diversification journey, marking what officials are calling...

Vitaliy Chiryassov: Aspiring to Streamline the Business Consulting Industry in the UAE 14567

Vitaliy Chiryassov: Aspiring to Streamline the Business Consulting Industry in the UAE In this interview, we're talking with Vitaliy Chiryassov, an entrepreneur who operates multiple...

International Jewellery Summit Sparkles in Dubai , Dazzling Unity

International Jewellery Summit in Dubai, The anticipation and excitement are palpable as the stage is set for the upcoming India Gem & Jewellery Show in...

Emirates Development Bank’s Impact on UAE Industrial GDP: A Catalyst for Economic Growth

Emirates Development Bank Empowers UAE's Industrial Growth with Boost to GDP Contribution Since the launch of its strategy in 2021, Emirates Development Bank (EDB) has...

Latest Articles