The UAE is the top country in the Arab world in terms of its preparedness for the future, according to a new report.
The Future Readiness Economic Index, produced by Washington-based Portulans Institute and Google, ranked the UAE in the third position among 27 emerging global economies and 27th out of 123 countries.
The report aims to provide countries with a valuable tool to measure their future readiness and serve as a guide to their strategy choices and policy decisions. It ranks countries based on factors like digital transformation, innovation and the ability to attract, grow and retain talent, among many others.
Among the emerging economies, Singapore topped the overall rankings, followed by Israel, UAE, China, Qatar, Saudi Arabia, Chile, Thailand, Russia and Turkey.
The UAE landed the 16th position in terms of talent, 19th in infrastructure and institutions, 22nd in innovation and 26th in technology.
In the area of human capital, the UAE scored high in terms of its ability to attract talent (4th), as well as grow human skills (6th). However, it didn’t perform as good in terms of its capacity to retain talent, ranked 47th.
According to Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future, the UAE’s high performance on the future readiness indicators reflects the “ambitious vision and philosophy of the UAE’s leadership to prepare for the future”.
“Accelerating digital transformation has played a critical role in ensuring business and services continuity amidst the COVID-19 pandemic, providing a new array of innovative services.”
The UAE has recently launched the “Principles of the 50” and “Projects of the 50”.
Al Roumi noted that the 10 principles focus on building the best and most dynamic economy in the world, investing in human capital, recruiting talent and continuously building skills, as well as promoting digital, technical and scientific excellence.
(Writing by Cleofe Maceda; editing by Seban Scaria )
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© ZAWYA 2021