Thursday 1 November 2018
The United Arab Emirates moved up 10 spots to 11th rank globally on the World Bank’s Ease of Doing Business 2019 report. The UAE is the best-performing country in the Middle East and North Africa, with Morocco coming in a distant second in the region with an overall rank of 60.
The UAE has scored high on the following parameters:
The UAE made getting electricity easier by eliminating all costs for commercial and industrial connections of up to 150 kVA. The country has also taken measures to modernize its judiciary with training for improved efficiency.
The country is fast closing in to become one among the top 10 in the Ease of Doing Business ranking of 190 countries. The World Bank report ranks economies on the basis of ease of doing business from 1 to 190. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall, the UAE is far ahead of its GCC peers in the global ranking and the ten categories on which the ranking is based. In the GCC, Bahrain is second with an overall ranking of 62, followed by Oman at 78, Qatar at 83, Saudi Arabia at 92, and Kuwait at 97.
In the 2019 rankings, the top 10 economies are New Zealand, Singapore, Denmark, Hong Kong SAR (China); Republic of Korea; Georgia; Norway; United States; United Kingdom, and FYR Macedonia.