UAE most economically competitive nation in Arab world: AMF

ISLAMABAD: The United Arab Emirates (UAE) has cemented its position as the most economically competitive nation in the Arab world, securing the top spot in the latest Arab Economic Competitiveness Index released by the Arab Monetary Fund (AMF).

This dominant performance, highlighted in the seventh edition of the AMF’s Arab Economic Competitiveness Report, underscores the UAE’s sustained progress across crucial sectors, including its robust overall economy, increasingly attractive investment environment and growing allure.

The media report further highlighted that the UAE secured the top position in the government financial sector index, ranking first in the deficit/surplus to GDP ratio and second in the tax burden index.

Additionally, the report mentioned that the UAE came in first place among Arab countries in terms of investment environment and attractiveness, topping the economic freedom index due to its advanced standing in all sub-indices.

The UAE Ambassador in Islamabad, Hamad Obaid Ibrahim Salem Al-Zaabi was felicitated by senior diplomats of the federal capital on his country’s achievement. He attributed the achievement to the UAE’s sagacious leadership.

The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and percentage of the population with access to electricity, while ranking second in the share of air transport and shipping to total global transport and shipping.

In terms of institutional and good governance sectors, the UAE achieved an advanced ranking in both the administrative corruption and government efficiency indices.

The Arab Monetary Fund report highlighted that many Arab countries have adopted multiple national strategies and visions to enhance productivity, improve efficiency of produced goods, and focus on productive sectors. They are striving to develop service sectors, facilitate business environments, and enhance infrastructure to address challenges that hinder their competitiveness.

Recognising the pivotal role of skilled citizens, Arab countries are investing heavily in education and workforce training. Alongside, massive infrastructure projects are transforming transport networks, port facilities, and logistics services, empowering them to compete in the global marketplace.

The AMF report anticipated that the enhancement of economic competitiveness and productivity would diversify Arab economies, providing employment opportunities, leading to sustainable economic development, and raising citizens’ living standards.