UAE Dominates Arab Economies
In a resounding victory, the United Arab Emirates has clinched the title ofthe most economically competitive nation in the Arab world, as revealed inthe latest Arab Economic Competitiveness Index by the Arab MonetaryFund (AMF). The seventh edition of the AMF’s Arab EconomicCompetitiveness Report underlines the UAE’s unwavering progress in keysectors, solidifying its robust overall economy, increasingly attractiveinvestment climate, and growing allure under the visionary leadership ofPresident His Highness Mohammed bin Zayed Al Nahyan.The report highlights the UAE’s stellar performance, securing the topposition in the government financial sector index, leading in thedeficit/surplus to GDP ratio, and claiming the second spot in the tax burdenindex. Notably, the UAE also takes the lead in the investment environmentand attractiveness category, dominating the economic freedom indexacross all sub-indices.In the infrastructure sector, the UAE reigns supreme, excelling in mobilephone subscriptions and population access to electricity. The nation alsosecures the second position in the share of air transport and shipping,contributing significantly to global transport and shipping.The report emphasizes the UAE’s outstanding performance in institutionaland good governance sectors, ranking first among Arab countries inadministrative corruption and government efficiency indices. Thecomprehensive analysis by the AMF applauds the UAE’s multifacetedstrategies, encompassing national visions and strategies to boostproductivity, enhance goods efficiency, and focus on productive sectors.The shared ambition of economic stability, sustainable growth, andimproved living standards for Arab citizens is at the core of these nationalefforts. Arab countries are deploying a diverse toolkit, from fostering localindustry investments to creating attractive business environments forforeign capital. Recognizing the crucial role of skilled citizens, substantial investments ineducation and workforce training are underway across Arab nations. Theaim is to equip the workforce with expertise needed to thrive in productivesectors and service industries. Massive infrastructure projects arereshaping transport networks, port facilities, and logistics services,positioning these nations as formidable contenders in the globalmarketplace.The AMF report anticipates that the enhancement of economiccompetitiveness and productivity will lead to diversified Arab economies,increased employment opportunities, sustainable economic development,and an elevation of citizens’ living standards. The UAE’s triumph stands asa testament to its commitment to excellence and innovation in the pursuit ofeconomic prosperity.