UAE Ministry of Economy tops economy indices

The UAE Ministry of Economy achieved the top position in nine economic indices and global competitiveness reports for years 2017 and 2018. The ministry revealed the rankings were part of the efforts to obtain the “Number One Challenge” by UAE federal government. It aims to place the country at the top of its game, the reports, and entire global competitiveness indices.

World Economic Forum in 2017 and 2018 declared the ministry as the first in five tourism indices. The indices related to the following:

  • Effectiveness of marketing aimed at tourists
  • Governmental travel and tourism priorities
  • Sustainability and development of the tourism sector
  • Quality of tourism infrastructure and presence of car rental companies

Moreover, the ministry also received three top-spots in the Global Competitiveness Yearbook, which Institute for Administrative Development issued in Switzerland last year. Again, this includes the following:

  • Implementation of technology.
  • Index of technological cooperation between companies
  • Public-private partnerships and the development

They also achieved the top rank in development of economic blocs in the Global Talent Competitiveness Index 2017. INSEAD, also known as European Institute of Business Administration, issued the said title.

Minister of Economy Sultan Bin Saeed Al Mansouri said the ministry commits to keeping work and launching initiatives, as well as the development programs that aim to expand the country’s leadership on main and sub-indices identified in cooperation with the UAE Federal Competitiveness and Statistics Authority (FCSA).

Furthermore, Minister of State for International Cooperation and the Chairperson of The Federal Competitiveness and Statistics Authority (FCSA) Reem Bint Ebrahim Al Hashimy said the UAE marks its leading presence in the global competitive arena. She attributed this success to the unified efforts of federal and local entities working together as one. According to Gulf News, she also acknowledged the Ministry’s working team, which she believes has the major contribution to the country’s progress.

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