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Ministry of Economy gains top spot in 9 economic indices

Al Mansouri says rankings show strength of UAE’s economic policies

Gulf News

DUBAI: The UAE Ministry of Economy said it has achieved the top position in nine economic indices and global competitiveness reports for 2017 and 2018.

The ministry said the rankings were part of its efforts to achieve the UAE federal government’s “Number One Challenge”. which aims to position the country at the top of all global competitiveness indices and reports.

The ministry was ranked first in five tourism indices mentioned in the World Travel and Tourism Competitiveness report, issued by the World Economic Forum in 2017 and 2018. The indices related to governmental travel and tourism priorities, effectiveness of marketing aimed at tourists, sustainability and development of the tourism sector, quality of tourism infrastructure and presence of car rental companies.

The ministry also achieved three top-spots in the Global Compeititveness Yearbook, issued by the Institute for Administrative Development. Switzerland, in 2017. These included the index of technological cooperation between companies, public-private partnerships and the development and implementation of technology.

And it achieved a top-spot in the development of economic blocs in the Global Talent Competitiveness Index 2017, by the European Institute of Business Administration (INSEAD).

Minister of Economy Sultan Bin Saeed Al Mansouri said the rankings represented a strong reflection of the ministry’s efforts in cooperating with its partners to develop a national business environment and increase the UAE’s attractiveness in investment, trade and tourism.

He said the ministry was committed to keep working and launching initiatives and the development programs aimed at expanding the country’s leadership on main and sub-indices identified in cooperation with the UAE Federal Competitiveness and Statistics Authority (FCSA).

Reem Bint Ebrahim Al Hashimy, Minister of State for International Cooperation and the Chairperson of The Federal Competitiveness and Statistics Authority (FCSA), said the UAE was marking its leading presence in the global competitive arena. She attributed this move to the unified efforts of federal and local entities working together as a common spirit. She also lauded the Ministry’s working team, which has contributed to the progress of the country in many competitive indicators.


UAE’s 2017 foreign trade valued at Dh1.7tr: Minister of Economy

ABU DHABI: The UAE’s Minister of Economy, Sultan Bin Saeed Al Mansouri, has stated that the initial figures for the UAE’s total foreign trade in 2017 will reach a value of Dh1.7 trillion. He expressed his expectation of continuous growth in the country’s trade during 2018 and the following years, in light of its policy of openness and its efforts to create beneficial commercial partnerships with various countries and promote commercial cooperation with promising international markets.

In a statement to Emirates News Agency, WAM, Al Mansouri said the country’s initiatives and strategic projects to support its commercial stature are continuing, including the hosting of the Expo 2020 Dubai, as well as local investment projects that are directly linked to this vital sector, such as the announcement of the construction of Dubai Wholesale City in the first quarter of 2016, which will be the largest international wholesale city in the world.