United Arab Emirates in top 10 of the world’s leading economies
The United Arab Emirates has positioned
itself as one of the top ten most competitive economies in the world,
moving up two places, according to the IMD Global Competitiveness Report
2023, released on Tuesday.
UAE Vice
President and Prime Minister and Ruler of Dubai, Sheikh Mohammed bin
Rashid Al Maktoum, through his Twitter account, hailed President Sheikh
Mohammed bin Zayed Al Nahyan and the Emirati people for their effort,
sincerity, dedication and mobilization around their leadership to
achieve high rankings.
Sheikh
Mohammed affirmed that UAE leads the world in various indicators, such
as management, energy, infrastructure, government’s ability to adapt to
changes and others. The emirate’s economy today is more competitive than
advanced countries such as Australia, Germany, South Korea, the United
Kingdom, France and Japan, among others. Among the sub-indices, UAE saw
its ‘Economic Performance’ improve from 6 to 4 and ‘Business Efficiency’
from 17 to 16.
World Competitiveness
Center Chief Economist Christos Cabolis congratulated the UAE and other
regional economies for embracing agile policies with the aim of
building a resilient economy. “Navigating today’s unpredictable
environment requires agility and adaptability. Countries that excel are
building resilient economies, such as Ireland, Iceland and Bahrain.
Their governments are also able to adapt policies based on current
economic conditions in a timely manner. UAE, Saudi Arabia, Qatar and
Singapore are also key examples of this.”
Globally,
Denmark maintained its top position, followed by Ireland, Switzerland,
Singapore, the Netherlands, Taiwan, Hong Kong, Sweden, the United States
and the United Arab Emirates. All countries in the Gulf region recorded
an increase in their rankings with Qatar in 18th place (up six
positions), Saudi Arabia in 17th (up seven places) and Bahrain in 25th
(up five).
Published by Emirates Herald, news and information agency.