IMD (World Institute for Management Development) sources recently stated that in competitiveness factored by 23 indicators that were included in its report within the aided factors and sub-indicators, the UAE region has proven its worth as it topped the MENA region and also stood in ninth position globally for the fourth year in row.
Despite all the hiccups and turmoil presented in form of recent health virus and economic scare, UAE stood up and waged lone battle clinching ninth spot in the global competitiveness rating and being touted as the lone Arab league nation to stood out in top 10.
According to Swiss Business School and Lausanne based IMD’s World Competitiveness Yearbook as released previous Tuesday, the UAE asserted firmly its stand amongst top ten best competitive nations globally in 2020, by even surpassing US, Ireland, Finland, Luxembourg, Germany, and the UK thereby proving its dominance in the “Big Ten Club”.
According to the IMD report, the UAE ranked preceding globally among 23 indicators or sub-factors, whilst it ranked among the pinnacle five globally in 59 indicators then into pinnacle ten globally in 106 indicators, outdoors concerning 338 indications blanketed with the aid of the record this year.
Another global competitiveness file issued through the World Economic Forum between 2019 ranked the UAE advance in the Arabian nation World or 25th globally. According in conformity with the file released between Davos, the UAE received twin positions due to the fact the closing edition.
Abdullah Lootah, director-general over the Federal Competitiveness as well as Statistics Authority mentioned that “The UAE is moving onward along a formidable strategy anticipating the future, teaching a lifestyle about virtue in accordance with lie within the leading over world competitiveness at a range of levels.”
Sheikha Manal Bint Mohammed, president of the UAE Gender Balance Council and of Dubai Women Establishment stated that “Since the originate regarding the UAE Gender Balance Council within 2015, we bear made entire the integral steps in conformity with decorate the UAE’s role between global competitiveness reports or to set up our country as like a partial or world mannequin because of the balance legislation.”
The IMD ranking depends about statistics accumulated out of data as well as pool of information furnished by means of the countries, classifies nations primarily based about their financial performance, rule efficiency, business efficiency or infrastructure. It also bases the rating regarding 20 other factors on 338 aggressive indicators.
The Arab world’s second biggest economic system ranked fourth between phrases of financial performance in spite of headwinds posed with the aid of the current health virus outbreak.
The UAE ranked advance globally between 23 indications included of the record inside its elements or sub-indicators.
In addition, the UAE ranked forward globally into the indicators: Absence of bureaucracy, immigration laws, redundancy costs, mangy mean governance foreign debt, action evasion, accumulated non-public earnings tax rate, accumulated oblique anxiety revenue rate, actual non-public taxes, then the share of women of the parliament, entire of which are warning signs included into the component of the regimen effective yet its sub-factors. Singapore topped IMD’s competitiveness ranking, followed through Denmark, Switzerland then Netherlands.