Following the recent launch of the Global Competitiveness Report for 2014-15 by the World Economic Forum, Reem bint Ibrahim Al Hashimy, Minister of State, and Chairwoman of the Emirates Competitiveness Council (ECC) has commended the efforts made by federal and local government organisations to step up performance of the U.A.E.'s competitiveness, leading the country to rank as the 12th most competitive nation globally for 2014-15, a jump of seven ranks from last year, and maintaining its regional lead.
Al Hashimy said efforts by different government teams led to the significant improvement in results of competitiveness indicators, with quality of the country's public institutions climbing 4 ranks from last year to become the 7th globally.
"This report is an international testimony to the U.A.E.'s global lead and position among the world's most advanced and innovative countries and this achievement could have not been achieved without the vision of our leadership who aspires to realise the ultimate goal of the U.A.E. Vision 2021 of making U.A.E. the best country in the world by 2021." She added by saying: "I thank all individual and organisations who contributed in supporting U.A.E.'s competitiveness, as well as the teams in different government institutions. All government institutions deserve to be commended for working together to achieve this remarkable result." Abdullah Lootah, ECC Secretary General, said the surge in the country's ranking year by year comes with more challenges to maintain this lead.
"We have a lot to do in holding this top position and in doing better. We will step up our efforts and work with the concerned institutions to ensure that the U.A.E. remains in the top all the time," he added.
Rankings of competitiveness in the Global Competitiveness Report are determined by two main factors; the Executive Opinion Survey and the data measuring performance of countries in vital areas such as healthcare, education, market size, patents, research and innovation programs.
Lootah underlined the important role of the private sector in improving the country's competitiveness rankings.
The ECC maintains continuous communication with national and international companies, chambers and business councils in the U.A.E. such as the British and French business councils.
The Global Competitiveness Report assesses the competitiveness landscape of different world economies, providing insight into the drivers of their productivity and prosperity. The Report series remains the most comprehensive assessment of national competitiveness worldwide.
The Emirates Competitiveness Council (ECC) is a U.A.E. federal government organisation that serves as a conduit between the public and private sectors to strengthen the U.A.E.'s competitiveness by actively informing policy creation and process development of federal and local government bodies to become more globally competitive.
It is committed to on-going partnership with the private sector to fortify its position as a leading centre for global businesses and to support effective policies, procedures and legislation to advance the U.A.E.'s competitiveness, regional and global leadership, and future prosperity.
Source: WAM