UAE ranks top in AMF’s Arab Economic Competitiveness Index

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
Sirius acquires Derby Group
Rep. Image | Courtesy: Aleksandar Pasaric @ Pexels | Cropped by GBN

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

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

According to the statement, “The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and the 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 came out on top among Arab countries, achieving 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 the efficiency of produced goods, and focus on productive sectors. The Arab countries are striving to develop service sectors, facilitate business environments, and enhance infrastructure to address challenges that hinder their competitiveness.

The AMF report anticipated that increasing economic competitiveness and productivity would help diversify the Arab economy, provide jobs, lead to sustainable economic development, and improve citizens’ living standards.

Most Reads | Almarai signs multiple agreements to localize jobs