Dubai is more competitive than Japan, Germany and France, says reportMarch 31st, 2009 - 12:00 pm ICT by ANI
Nicosia, Mar 31 (ANI): The National Competitiveness Report for 2009, published by the Institute for Industrial Policy Studies of the National University of Seoul, ranked Dubai 16th out of 65 global economies, saying it is more competitive than Japan, Germany, France and New Zealand.
The report, which is published annually since 2001, considers Dubai as the most competitive economy in the Middle East.
This is the first time that the emirate has been included in the Report.The US ranked No.1 in this year’s study of competitiveness, followed by the Netherlands and Denmark.
Kuwait is way below Dubai in competitiveness, which occupies the 30th position, followed by Oman at the 42nd position and Saudi Arabia at the 48th.
The findings of the National Competitive Report form part of a Revealed Comparative Advantage (RCA) index, the first in a series of research projects conducted by the Dubai Chamber of Commerce and Industry (DCCI). Dubai has the regional advantage in eleven export sectors relative to other Arab nations.
Globally, Dubai exports are competitive in five sectors, with semi-precious to precious stones and metals and imitation jewellery holding the first place in the index.
The index also showed that Dubai exports had competitive advantages in 23 industries relative to the global norm.
One of the weaknesses pointed out in the Report is that Dubai should be less dependent on foreign labour and needs to focus more on capital-intensive rather than labour-intensive methods. (ANI)
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