UAE moves up 22 places in latest ‘Doing Business’ ranking

September 26th, 2008 - 12:01 pm ICT by IANS  

Dubai, Sep 26 (IANS) The United Arab Emirates (UAE) has leaped up by 22 positions in terms of ease of doing business in the country in the latest edition of the World Bank’s Doing Business Report.The UAE’s overall ranking for ease of doing business improved from 68th in 2008 to 46th in the 2009 edition of the report, according to a statement by Dubai Trade, which helped the World Bank with data for compiling the report.

In terms of trading across borders, the country’s ranking improved from 24th in 2008 to 14th in 2009.

“As a nation, we have made impressive strides in our bid to attract the choicest of global businesses and to consistently and constantly upgrade our business environment,” Mahmood Al Bastaki, director of Dubai Trade, said.

He lauded Vice President and Prime Minister of the UAE and ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum for laying great emphasis on raising UAE’s and Dubai’s profile.

The annual Doing Business Report is compiled by the World Bank to provide evaluations of business regulations and their enforcement across 181 countries and selected cities at the sub-national and regional level.

Economies are ranked on their ease of doing business from 1 to 181. A high ranking on the ease of doing business index means the regulatory environment is conducive to the operation of business.

The index also averages a country’s percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic.

Dubai Trade, an online service provider and business facilitator, helped World Bank with a detailed report to reflect the progress made overall in the UAE.

“Our report helped us not only to review current trade procedures constructively but also plan solutions and simplified process systems to further improve UAE’s standing in the next report,” Al Bastaki said.

“We will continue to work with our stakeholders and focus our efforts on enhancing the nation’s business flow. Our goal is to fortify (Dubai government’s investment company) Dubai World’s role as a global pioneer in the trade and logistics domain and establish UAE as one of the top 10 economies in the world that facilitate cross border trade,” he added.

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