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UAE first in Gulf region, seventh globally in IMD competitiveness ranking

by | News

May. 24, 18 | 9:28 am

The UAE has been deemed the most competitive economy in the Gulf region and seventh globally according to the 2018 World Competitiveness Yearbook, published by the International Institute of Management Development (IMD).

The report showed that the UAE climbed 21 spots in the list from 2011 to 2018 and has outshined several advanced global economies including Sweden, Norway, and Canada.

The UAE came first globally and scored high in terms of government decisions, public-private partnership projects, employment, and international talent.

The UAE also came second globally in the Business Efficiency category, and third globally in the Diversification of Economy and City Management indicators.

It likewise ranked fourth in the Energy infrastructure and Development and Application of Technology categories.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, underscored the importance of this feat and stated that the UAE’s experience is a regional one that led to a top global rank.
”An experience of determination and success that is open for all the Arab nations. We will continue enhancing our business environment, our infrastructure, and our resources, because we want a better life for our people and all the residents in the UAE,” the Dubai Ruler said.

His Highness added that, “UAE’s competitiveness journey is an accelerating one, and it only makes us more determined to reach the highest ranks.

The IMD World Competitiveness Yearbook 2018 is comprised of four key factors, 20 sub-factors and 340 indicators that cover all the major areas of a nation’s competitiveness in social, administrative, business economic topics that also include government efficiency, education and innovation

In the Economic Factor, the UAE moved from fifth globally in 2017, to third globally this year. It also retained its fourth global rank in the government efficiency factor.

As for Business Efficiency, the Gulf state kept its second rank globally and achieved the first rank worldwide in seven indicators such as Overall Productivity, Industrial Disputes, Labor Force Percentage of Total Population, International Experience, and Attitudes Towards Globalization.

Commenting on this year’s performance, Reem bin Ibrahim Al Hashimy, Minister of State of International Corporation and Chairwoman of the Federal Competitiveness and Statistics Authority (FCSA), said: “We wish to congratulate the UAE leadership and people for this great achievement and comment the collaborative efforts of all the local and federal government entities that worked hand in hand, in support of UAE international competitiveness and the progress it made this year.”

The IMD World Competitiveness Center, a research group at IMD business school in Switzerland, has been publishing the rankings every year since 1989. This year, 63 countries have been ranked and included in the list.

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It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

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