UAE ranks 25th in competitiveness report

09 Sep 2010

(MENAFN) Global Competitiveness Report released by the World Economic Forum said that the UAE has ranked 25th in the world, the UAE ministry of cabinet affairs confirmed, according to Gulf News.

The report said that the UAE has been ranked among the top 10 countries in more than 18 indicators of competitiveness globally, and has reached an advanced position among the 139 countries assessed by the report, the ministry said.

The UAE was included in the report for the second year in the third and most advanced stage of innovation-driven economies which includes the highest-ranking countries. They are classified on the basis of their adoption of factors that promote innovation in economic development and the group includes countries such as Germany, Japan, Sweden, Australia, Canada, the United States, Switzerland, United Kingdom and Singapore, with the UAE being the only Arab country to feature in the group.

The UAE ranked third in the world for �quality of infrastructure�, and fourth with regards to �stability, security and its association with a positive business environment and quality of infrastructure for air transport”.

The report also ranked the UAE sixth in the world with respect to “goods market efficiency”, four positions ahead of last year’s classification, and sixth in the world on the “quality of road infrastructure”, advancing from seventh position in last year’s report. UAE maintained the sixth position in “foreign direct investment” and “technology transfer” indicators.