UAE Highlights Role of Proactive Initiatives in Boosting Economic Competitiveness at Davos 2025
Abdullah bin Touq Al Marri, UAE Minister of Economy, emphasized the importance of proactive national initiatives in enhancing the UAE's regional and global economic competitiveness during a session titled "Global Competitive Edge in an Ever-changing World" at the 55th World Economic Forum (WEF) in Davos. The annual meeting, held from January 20 to 24 under the theme "Collaboration for the Intelligent Age," brought together global leaders to address pressing economic and technological challenges.
Led by H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture, the UAE delegation included over 100 representatives from both the private and public sectors.
UAE’s Competitiveness and Strategic Vision
Addressing global challenges such as technological advancements, economic transitions, and environmental issues, Al Marri highlighted the UAE's achievements, including:
- Ranking 7th globally in the World Competitiveness Report 2024, a three-spot climb from 2023.
- Securing top positions in 223 global indicators, including 20 indicators in the Future Possibilities Index (FPI).
- Being home to over 1.1 million companies, solidifying its status as a hub for investors and entrepreneurs.
Al Marri stated:
"The UAE's wise leadership has laid the groundwork for a resilient, competitive economy by fostering innovation, embracing advanced technologies, and creating a high-quality life ecosystem for its residents. Our achievements in global competitiveness underscore the strength and adaptability of the UAE economy."
Economic Diversification and Sustainability
Al Marri outlined the UAE’s success in diversifying its economy, with non-oil sectors now contributing 75% of GDP, aligning with the "We the UAE 2031" vision to establish the nation as a global hub for the new economy. Key sectors driving this transition include:
- Fintech and AI
- Entrepreneurship and advanced manufacturing
- Food security and environmental sustainability
He stressed the importance of accelerating the shift toward knowledge-based and technology-driven economic models, ensuring adaptability to geopolitical tensions, inflationary pressures, and fluctuating oil prices.
Commitment to Innovation and Digital Transformation
The UAE's focus on digital transformation, AI integration, and human capital development positions it as a leader in aligning innovation with economic outcomes. Al Marri added:
"Economic competitiveness demands innovation, research, and public-private partnerships to create a business-friendly environment that attracts investment and fosters startup growth."
Active Participation at Davos 2025
The UAE delegation actively engaged in sessions, meetings, and discussions at WEF 2025, reinforcing the nation’s influence in global dialogues on sustainability, technology, trade, and energy. The UAE's efforts underscore its commitment to sustainable economic development and leadership in key sectors shaping the future economy.
