The UAE continues its winning streak for the third consecutive year, retaining its position as the number one country in the MENA region in which to do business. Ranked 31st globally among 189 countries by the World Bank’s Ease of Doing Business report for 2016, UAE is far ahead of the rankings of some of its regional peers such as Bahrain (65), Qatar (68) and Saudi Arabia (82).
The Ease of Doing Business report measures the procedures and legislations that encourage investment and trade and highlights obstacles to doing business. Retaining the top rank in the MENA region is testament to the procedures being put in place by the UAE government to facilitate doing business and enhance competitiveness.
This year’s ranking saw the introduction of new benchmarks, against which the UAE has performed well. The new criteria saw the UAE move up one place from its 2015 result. Although the UAE ranked 22nd last year, the new methodology has seen the World Bank revise its 2015 rankings.
At the regional level the UAE has been ranked first for criteria such as obtaining construction permits, getting electricity, registering property, paying taxes and enforcing contracts. The government has made dealing with construction permits more manageable and efficient by streamlining the process for obtaining the civil defense approval, and the country has also reduced time needed to provide an electricity connection cost estimate. The country also ranked second in the MENA region for startups and protecting minority investors.
Links Group would like to congratulate the UAE for maintaining their number one position in the region and also thank the leadership for their constant support in improving the country’s business infrastructure and regulatory frameworks. These efforts are helping to attract more foreign investors from around the world who are increasingly recognising the UAE as a strategic, international business hub.