UAE Ranks First Place Among Nine Economic Indices of Recently Released Global Competitiveness Reports

The UAE achieved top rankings across nine economic indices covering economic events in a collection of recently launched global competition reports and indices for 2017 and 2018. The Ministry of Economic climate exposed that these success belong to its continuing efforts to attain the set goals of the government's 'Number One Challenge' project, which aims to position the UAE to begin with of all global competitiveness indices and reports.

The Ministry of Economy announced that this success comes within the structure of its constant initiatives to meet the ambitious goal of attaining the UAE's starting point on the global competition indices within its skills, which falls under the Government's number one challenge project.

The 9 indices that have placed the UAE to begin with placement consist of a collection of financial, trade and tourism activities overseen by the Ministry of Economic climate based on classifications released by reports from the World Economic Forum (WEF), the International Institute for Administrative Development in Switzerland, and the European Institute of Business Administration (INSEAD).

The Ministry was ranked first in 5 indices discussed in the World Travel and Tourism Competitiveness Report provided by the World Economic Forum, Switzerland 2017-2018. The indices consisted of in the report relate to the government's traveling and tourism priorities, the effectiveness of advertising and marketing to attract visitors, the sustainability and growth of the tourism and traveling industry, the high quality of the tourist infrastructure and the presence and schedule of significant car rental companies.

The Ministry additionally achieved first place in three business and business-related indices included in the Global Competitiveness Yearbook, which was released by the International Institute for Administrative Growth in Switzerland, 2017. These consisted of the index of technical teamwork between companies, public-private collaborations and the development and implementation of technology.

According to the INSEAD report on Global Talent Competition Index 2017, the UAE ranked initially in terms of growth of financial blocs.

H.E. Engr. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said that the accomplishment of being placed top place amongst nine economic indices of competitiveness reports provided by several of the world's most prestigious international companies and specialized establishments, reflects the strength of the economic plans embraced by the UAE under the instructions and vision of the wise leadership to attain sustainable development. He explained that these accomplishments represent a strong representation of the Ministry's initiatives in accepting its partners to develop a national business environment and boost the UAE's beauty across numerous fields of investment, trade and tourism.

H.E stressed that the Ministry remains to be steadfast in its commitment to continue functioning and launching campaigns and the development programs aimed at increasing the country's leadership on main and sub-indices, which are recognized together with the UAE Federal Competitiveness and Data Authority (FCSA) as well as under the Ministry's vision of constructing a diversified and internationally competitive economy based on knowledge and innovation.

For her part, H.E Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation and the Chairperson of The Federal Competitiveness and Statistics Authority (FCSA), said that the UAE today is noting its leading presence in the global competitive field. She associated this relocate to the unified initiatives of federal and local entities interacting as a typical spirit. She likewise admired the Ministry's working group, which has added to the development of the nation in many competitive indicators.

The 'Number One Challenge' project is just one of the UAE government's leading campaigns that was launched in 2013. The project intends to bring the country's federal establishments, each inning accordance with their particular field of experience, to the top position of global competition indicators.