UAE Dominates Arab Economies

In a resounding victory, the United Arab Emirates has clinched the title of
the most economically competitive nation in the Arab world, as revealed in
the latest Arab Economic Competitiveness Index by the Arab Monetary
Fund (AMF). The seventh edition of the AMF’s Arab Economic
Competitiveness Report underlines the UAE’s unwavering progress in key
sectors, solidifying its robust overall economy, increasingly attractive
investment climate, and growing allure under the visionary leadership of
President His Highness Mohammed bin Zayed Al Nahyan.
The report highlights the UAE’s stellar performance, securing the top
position in the government financial sector index, leading in the
deficit/surplus to GDP ratio, and claiming the second spot in the tax burden
index. Notably, the UAE also takes the lead in the investment environment
and attractiveness category, dominating the economic freedom index
across all sub-indices.
In the infrastructure sector, the UAE reigns supreme, excelling in mobile
phone subscriptions and population access to electricity. The nation also
secures 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 institutional
and good governance sectors, ranking first among Arab countries in
administrative corruption and government efficiency indices. The
comprehensive analysis by the AMF applauds the UAE’s multifaceted
strategies, encompassing national visions and strategies to boost
productivity, enhance goods efficiency, and focus on productive sectors.
The shared ambition of economic stability, sustainable growth, and
improved living standards for Arab citizens is at the core of these national
efforts. Arab countries are deploying a diverse toolkit, from fostering local
industry investments to creating attractive business environments for
foreign capital.

Recognizing the crucial role of skilled citizens, substantial investments in
education and workforce training are underway across Arab nations. The
aim is to equip the workforce with expertise needed to thrive in productive
sectors and service industries. Massive infrastructure projects are
reshaping transport networks, port facilities, and logistics services,
positioning these nations as formidable contenders in the global
marketplace.
The AMF report anticipates that the enhancement of economic
competitiveness 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 as
a testament to its commitment to excellence and innovation in the pursuit of
economic prosperity.