ID :
79128
Wed, 09/09/2009 - 14:39
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https://www.oananews.org//node/79128
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Global competitiveness report shows UAE improved rating
Abu Dhabi, Sept 9, 2009 (WAM) - The World Economic Forum on Tuesday released its Global Competitiveness Report 2009-2010 showing that United Arab Emirates has significantly improved its competitive position moving up eight places.
The country's improvement by eight places reflects a more favourable assessment of institutions and an upgrading of technological readiness and innovative capacity, moreover its financial markets resist the financial crisis better than many other countries, says a press release.
A number of countries in the Middle East and North Africa region are in the upper half of the rankings, led by Qatar, United Arab Emirates, Saudi Arabia, Bahrain, Kuwait and Tunisia, with particular improvements noted in the Gulf States, which continue their upward trend of recent years.
Qatar improves by four places. The United Arab Emirates (UAE) climb to 23rd position, mainly due to a more favourable assessment of institutions, and higher technological readiness and innovative capacity. The financial markets in the UAE show more resilience to the financial crisis than many other countries.
“The strong interdependence among the world's economies makes this a truly global economic crisis in every sense. Policy-makers are presently struggling with ways of managing these new economic challenges, while preparing their economies to perform well in a future economic landscape characterized by growing uncertainty. In a difficult global economic environment, it is more important than ever for countries to put into place strong fundamentals underpinning economic growth and development,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.
The Global Competitiveness Report's competitiveness ranking is based on the Global Competitiveness Index (GCI).
The GCI is based on 12 pillars of competitiveness, providing a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development.
The pillars include Institutions, Infrastructure, Macroeconomic Stability, Health and Primary Education, Higher Education and Training, Goods Market Efficiency, Labour Market Efficiency, Financial Market Sophistication, Technological Readiness, Market Size, Business Sophistication, and Innovation.
The country's improvement by eight places reflects a more favourable assessment of institutions and an upgrading of technological readiness and innovative capacity, moreover its financial markets resist the financial crisis better than many other countries, says a press release.
A number of countries in the Middle East and North Africa region are in the upper half of the rankings, led by Qatar, United Arab Emirates, Saudi Arabia, Bahrain, Kuwait and Tunisia, with particular improvements noted in the Gulf States, which continue their upward trend of recent years.
Qatar improves by four places. The United Arab Emirates (UAE) climb to 23rd position, mainly due to a more favourable assessment of institutions, and higher technological readiness and innovative capacity. The financial markets in the UAE show more resilience to the financial crisis than many other countries.
“The strong interdependence among the world's economies makes this a truly global economic crisis in every sense. Policy-makers are presently struggling with ways of managing these new economic challenges, while preparing their economies to perform well in a future economic landscape characterized by growing uncertainty. In a difficult global economic environment, it is more important than ever for countries to put into place strong fundamentals underpinning economic growth and development,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.
The Global Competitiveness Report's competitiveness ranking is based on the Global Competitiveness Index (GCI).
The GCI is based on 12 pillars of competitiveness, providing a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development.
The pillars include Institutions, Infrastructure, Macroeconomic Stability, Health and Primary Education, Higher Education and Training, Goods Market Efficiency, Labour Market Efficiency, Financial Market Sophistication, Technological Readiness, Market Size, Business Sophistication, and Innovation.
