The UAE has retained its position as the ninth most competitive country globally, out-performing countries including the USA, Canada, Australia and the UK.
The UAE was also ranked third for government efficiency, eighth for business efficiency and ninth for economic performance in the Institute for Management Development (IMD) World Competitiveness Ranking 2021, which was released on Thursday.
The country achieved 28th position of 64 states globally for infrastructure, which includes health and environment, scientific, basic and technical infrastructure.
“We have topped the world in 20 development indicators and the UAE is among the top 10 countries in competitiveness and the first globally in the government’s ability to adapt to changes,” Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai in tweeted.
“We did not stand still during the pandemic and we will not stop moving forward,” he said, adding that the UAE has advanced in 120 global indicators.
The IMD listed challenges the country faces in 2021, including putting in place standardised guidelines due to constant changes during COVID-19, businesses becoming bankrupt due to disturbed supply chains and continuing the government’s economic diversification agenda.
The UAE was the only country in the Middle East to be featured in the top 10 ranking. Switzerland is ranked first, followed by Sweden, Denmark, Netherlands and Singapore, while Qatar was 17th and Saudi Arabia 32nd. The USA ranked 10th, China 16th and the UK 18th.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
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© ZAWYA 2021