FINANCIAL NEWS

UAE excels in the index of economic innovation

04 Jul 2013

(MENAFN) The 2013 Global Innovation Index issued by Cornell University, Insead and the World Intellectual Property Organization (WIPO) ranked UAE as the most innovative economy in the Arabic region based on its high-quality of infrastructure, strong government support and development of economic free zones, Arabian business published.

Norms of the index, which evaluated 142 countries across the globe, included quality of universities, availability of microfinance and project capital, in addition to research and development expenditures, UAE as top one country in the Arab world exceled in fields such as ease of paying taxes, online government services, general infrastructure, creative output and competitiveness.

It’s worth mentioning that Saudi Arabia landed in the second spot regionally and 48 globally followed by Qatar then Kuwait while Bahrain was ranked 67.

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