Tuesday, November 06, 2018
Crown Prince of Dubai and Chairman of The Executive Council of Dubai His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has affirmed that the ranking progress attained by the UAE in the World Bank’s Ease of Doing Business 2019 Report has been driven by the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and the constant follow up of Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces His Highness Sheikh Mohamed bin Zayed Al Nahyan.
Sheikh Hamdan bin Mohammed’s statement came during a meeting with the team from the Dubai Government and the Federal Competitiveness and Statistics Authority that has worked tirelessly to attain the exceptional rise in ranking. His Highness congratulated the team for their efforts that led to the UAE being ranked 11th globally among 190 countries in the Ease of Doing Business 2019 Report.
Sheikh Hamdan bin Mohammed said: “With determination, and ambition, we will continue our march to become the top global destination for innovation, entrepreneurship and investment. Our accomplishments are the result of sound planning and the combined efforts of local and federal governments.”
Speaking to the team members, His Highness said: “With your dedication and the vision of the wise leadership of our beloved country, we march into the future with the resoluteness and knowledge necessary to overcome challenges and become one of the top 10 countries in the world in Ease of Doing Business. The UAE, with its unique development model, has become a leading example for other countries to follow. The UAE has jumped 10 rankings in the World Bank’s report and is closing in rapidly on the top 10 ranked countries.”
The meeting was attended by Minister of Cabinet Affairs and the Future HE Mohammed Abdullah Al Gergawi and Secretary General of The Executive Council of Dubai HE Abdullah Mohammed Al Basti and a number of top ranking government executives.
The rankings of the World Bank’s Ease of Doing Business Report are determined by calculating the aggregate scores in 10 indices, each consisting of several indicators. The UAE scored high on indices such as getting electricity connection (with top score of 1), paying taxes (2), dealing with construction permits (5) registering property (7), and Enforcing contracts (9).
The UAE topped Arab countries in ease of doing business. The report ranks 190 economies on ease of doing business, taking into account factors that include trading regulations, property rights, contract enforcement, investment laws and availability of credit.
