According to a new report from the World Economic Forum, the UAE is the most competitive economy in the Arab world. The new ranking was welcomed by Sheikh Mohammed bin Rashid, the Vice President and Prime Minister and Ruler of Dubai, who praised the efforts of the federal, local and private sector work team.

The 2016 global competitiveness report by the World Economic Forum is an evaluation of productivity and economic health in 138 countries. The UAE was ranked in 16th position, up one place from last year and the highest placed in the Middle East and North Africa.

The ranking is based on global indicators including prosperity, well-being and happiness for the homeland and its citizens where the UAE has excelled and continues to diversify its economy and enhance innovation.

We would like to congratulate the UAE for yet another positive achievement and look forward to further supporting the government in its mission to continue to position the country as a leading global business destination.