Dubai: The UAE climbed three spots to rank 22nd in the World Bank Group’s Doing Business 2015 rankings released on Wednesday. The country was ranked first in almost all regional categories.
The country was up 10 places to rank 89th for getting credit, jumped 59 spots to reach 43 for protecting minority investors, and ranked 8th for trading across borders from 9th last year.
However, the UAE dropped 4 places to reach the 92nd spot for resolving insolvency, and ranked 4th after taking the third spot last year for getting electricity.
The country’s credit bureau improved access to credit information by starting to exchange credit information with a utility, the Doing Business 2015 report showed.
In terms of registering property, the UAE has made transferring property easier by introducing new service centres and a standard contract for property transactions.
Also, the report noted that the country has boosted investor protections by introducing additional approval requirements for related-party transactions and greater requirements for disclosure of such transactions to the stock exchange.
