Mohammed bin Rashid: UAE Ranks 5th Globally in Economic Competitiveness, Government Efficiency, Legislation & Business Environment

Mohammed bin Rashid

 Mohammed bin Rashid: UAE Ranks 5th Globally in Economic Competitiveness, Government Efficiency, Legislation & Business Environment

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, chaired a UAE Cabinet meeting at Qasr Al Watan in Abu Dhabi, attended by senior officials. He announced that the UAE has ranked 5th globally in the World Competitiveness Report 2025 by the IMD World Competitiveness Center, surpassing major economies like the US, Sweden, Germany, and Canada.

Key global rankings:

1st in absence of bureaucracy

2nd in adaptability

4th in government efficiency

3rd in business efficiency

The UAE also ranked 1st globally in 22 indicators, including employment rate, global expertise availability, digital transformation in companies, venture capital, and infrastructure.

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Key Cabinet Announcements:

Housing Approvals: AED 1.2 billion approved for housing support for 1,838 citizens in H1 2025.

Balanced Development: The Emirates Council for Balanced Development continues initiatives in remote areas to ensure nationwide development.

Digital Identity Progress: Over 11 million registered users and 2.6 billion digital transactions via UAE PASS.

Anti-Money Laundering: Reformation of the National AML/CFT Committee under the chairmanship of Sheikh Abdullah bin Zayed.

Maritime Safety: Establishment of the National Maritime Navigation Center to manage marine traffic and safety.

Free Trade Agreements: 27 comprehensive economic partnership agreements negotiated; 10 entered into force. UAE's trade volume reached AED 5.23 trillion in 2024.

Cultural Heritage Law: Approved draft federal law to preserve and promote cultural heritage across the UAE.

Climate Action: Reformation of the UAE Council for Climate Action to align with the Net Zero by 2050 strategy and enhance biodiversity efforts.

Unemployment Insurance Scheme: Over 8.8 million insurance policies issued since January 2023, with over 10,000 beneficiaries receiving AED 114 million.

"Make it in the Emirates": AED 168 billion in potential procurement opportunities, with AED 11 billion in signed industrial project agreements.

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Global Engagement: The UAE will host or participate in 13 major international events, including conferences on sustainability, education, innovation, and climate.

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Mohammed bin Rashid Remarks:

> “We are among the world’s top five in competitiveness. Our foundations are strong, our future is stronger, and with the vision of my brother Sheikh Mohamed bin Zayed, the UAE will continue rising.”