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UAE First Regionally and Seventh Globally, According to IMD World Competitiveness Yearbook 20182018
Mohammad Bin Rashid: Our competitiveness journey is an accelerating one, and it only makes us more determined to reach the highest ranks
UAE is number one globally in 23 indicators including “Government Decisions” and “International Talent”
- UAE is the only country in the region to be among the top 10 in the World Competitiveness Yearbook 2018
- UAE maintained its leadership in the region and moved up three ranks from 2017’s position
- UAE moved up 21 positions in 7 years from 2011 till 2018
- Mohammad Bin Rashid: We have the determination, we have the talent, and we have the resources. Being Number One suits our nation
- Mohammad Bin Rashid: UAE’s experience is a regional one that led to a top global rank. An experience of determination and success that is open for all the Arab nations. We will continue in enhancing our business environment, our infrastructure and our resources, because we want a better life for our people and all the residents in the UAE.
Dubai, UAE – 23 May 2018
The United Arab Emirates came in first rank regionally and seventh rank globally in global competitiveness. That is according to the latest edition of the World Competitiveness Yearbook 2018, published by the Swiss based Insatiate of Management Development (IMD) that was unveiled today. According to the report, the UAE out-performed advanced economies such as Sweden, Norway and Canada and has jumped 21 ranks between the years 2011 and 2018.
According to the report, the UAE came first globally in various indicators such as “Government Decisions”, “Public-Private Partnerships”, “Employment” and “International Talent”. The UAE also came second globally in “Business Efficiency” factor, and third globally in “Diversification of Economy”, “City Management” indicators, forth in “Energy infrastructure” and “Development and Application of Technology” indicators.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President Prime Minister and Ruler of Dubai stated that the UAE’s experience is a regional one that led to a top global rank. An experience of determination and success that is open for all the Arab nations. We will continue in enhancing our business environment, our infrastructure and our resources, because we want a better life for our people and all the residents in the UAE.
His Highness added that UAE’s competitiveness journey is an accelerating one, and it only makes us more determined to reach the highest ranks, stressing that we will continue in the competitiveness race and we will not settling for anything less than being number one globally. His Highness concluded by saying” We have the determination, we have the talent, and we have the resources. Being Number One suits our nation.
Emirati Leadership
The IMD World Competitiveness Yearbook 2018 is comprised of four key factors, 20 sub factors and 340 indicators that cover all the major areas of a nations competitiveness in social, administrative, business economic topics that also include government efficiency, education and innovation. In the Economic Factor, the UAE moved from fifth globally in 2017, to third globally in 2018. It also retained its fourth global rank in the government efficiency factor.
On an indicator level, UAE held a number of advanced position in various indicators such as International Trade (1st globally), Employment (3rd globally), and International Investment (10th globally). UAE also achieved high ranks in a number of indictors such as first globally in Employment as a percentage of population, 3rd globally in Diversification of Economy, 5th globally and Export Growth and 6th globally in Youth Unemployment (lack of). The UAE also achieved number one in Quality of Air Transportation and Public-Private Partnerships. The UAE also came 2nd globally in Cyber Security, 3rd globally in Management of Cities, Maintenance and Development and 4th globally in Energy Infrastructure and Application and Development of Technology.
Government and Business Environment
In the Government Effeminacy factor, UAE maintained its 4th rank globally as well as achieved the No 1 rank globally in eight indicators, such as “Government Decisions”, “Immigration laws”, 2nd globally in “Adaptability of Government Policy” and “Lack of Bureaucracy”, 3rd in “Ease of Doing Business” and 4th globally in “Labor regulations”.
As for the Business Efficiency, UAE kept its 2nd rank globally and achieved the first rank globally in 7 of its indicators such as “Overall productivity”, “Industrial Disputes (Lack of)”, “Labor force percentage of total population”, “International Experience” and “Attitudes Towards Globalization”. UAE also came 2nd globally in “Entrepreneurship”, “Digital Transformation”, “Changing Market Conditions” and “Agility of Companies”. The UAE achieved 3rd globally in “Opportunities and Threats” and 5th globally in Use of big data and analytics.”
Commenting on this year’s performance, Her Excellency Reem bin Ibrahim Al Hashimy, Minister of State of International Corporation and Chairwoman of the Federal Competitiveness and Statistics Authority, said: “Under the guidance and direction of the UAE wise leadership, which is built on the continued and sustainable investment in human development and national talent, adoption of innovation and the non-stop development and improvement for the UAE economy; UAE has proven the effectiveness of its comprehensive developmental strategy that its government entities is implementing.”
“We wish to congratulate the UAE leadership and people for this great achievement and comment the collaborative efforts of all the local and federal government entities that worked hand in hand, in support of UAE international competitiveness and the progress it made this year,” added Her Excellency.
Malik Radwan Al Madani, Director of Competitiveness Strategy Deferment at the FCSA added that “No single entity alone can enhance competitiveness performance. It is the result of a collaborative effort between all the relevant local and federal government entities, through the commitment in the constant improvement of performance, the launch of impactful programs and initiatives that aim to extend services to businesses and individuals, thus, moving the nation’s competitiveness scale and contributing to the countries journey to become one of the best countries in the world by the year 2021.”
Global Rankings
In an analysis prepared by the Competitiveness Strategy at the FCSA showed that this year’s top 10 position was highlighted by extensive movement between competing economies. Most prominently, was the United States of America taking over Hong Kong as the Number 1 most competitive country. Hong Kong moved to 2nd followed by Singapore which moved up to number 3. The Netherlands captured the 4th place moving ahead of Switzerland that moved back to 5th and Denmark to the 6th place. UAE moved up to 7th place ahead of Norway, 8th, Sweden 9th and Canada 10th.
The IMD World Competitiveness Center, a research group at IMD business school in Switzerland, has published the rankings every year since 1989. This year 63 countries are ranked.
Al Mheiri: Data is key for UAE’s Future Food Security Strategy
Dubai, UAE, 28 February 2018
During her tour of the headquarters of Federal Competitiveness and Statistics Authority (FCSA), H.E. Maryam bint Mohammed Saeed Al Mheiri, Minister of State for Future Food Security underscored the importance of cooperation and identifying areas of collaboration between the two entities. The minister met with FCSA team and was briefed on the authority’s mandate and scope of responsibilities in managing global UAE competitiveness efforts, statistics and data portfolio and the realization of sustainable development goals.
Additionally, FCSA Team presented an overview of statistical indicators related to food security and discussed strategic aspects of statistical work, means of collecting data and making it accessible to stakeholders, particularly joint projects between FCSA and government entities, as well as the private sector.
During the meeting, the minister indicated the importance of collaboration with FCSA on the Minister’s initiatives and future projects, as well as FCSA’s role in supporting such programs through FCSA’s expertise in both statistics and competitiveness.
H.E. Al Mheiri said that she looks forward to further cooperation and future joint projects with the FCSA, specifically taking advantage of the entity’s expertise in the field of researches and knowledge products to support UAE’s Future Food Security portfolio.
H.E. Abdullah Nasser Lootah, FCSA Director General, said: “FCSA is keen to support federal and local government authorities in the field of statistics, data and global competitiveness ranking. FCSA’s expertise and competencies are all set to be at the disposal of H.E. the Minister and her team with the aim to achieve the desired goals and support UAE’s strategy to achieve food security,” he emphasized.
Following the meeting, Al Mheiri was taken on a tour of FCSA office and was briefed on the services and facilities highlighting the distinctive architectural design of FCSA headquarters and its impact on employees, inducing a creative work environment that stimulates productivity and innovation.
- Partnerships that enhance competitiveness and commercial rule of law will underpin investment opportunities in Dubai and UAE
- Business environment and investors power reflect positively on UAE’s rank in competitiveness reports
Dubai, UAE- 26 February 2018
Mark Beer, OBE, Chief Executive of the Dispute Resolution Authority (DRA) at Dubai International Financial Centre (DIFC) and an accompanying delegation of senior executives, consultants and financial analysts, visited the FCSA to discuss mutual areas of cooperation between the two entities.
Both teams discussed various topics related to the investment environment in UAE, attending to investors’ interests and attracting development projects that contribute to the sustainability of UAE economic sectors.
“We are glad to have had the opportunity to understand FCSA’s role in boosting its competitiveness in global reports and indicators”, said Mr. Beer. He also hailed FCSA’s interest in collaborating with stakeholders who can influence UAE’s ranking and performance in competitiveness reports, and all the current effort being exerted to maintain an attractive investment environment in the UAE.
“In addition to contributing to UAE’s future plans to become a knowledge-based economy, it is very important that investors have access to accurate data and statistics that reflect market conditions”, said Mr. Beer.
H.E. Abdullah Nasser Lootah, FCSA Director General, addressed the visiting delegation by underlining that the meeting was fruitful and valuable while stressing the importance of partnerships and cooperation in issues of mutual interest.
He also featured the role of the DRA in protecting investors. He affirmed: “Indeed, the DRA is keen to attend to the interests of the investment environment in the Emirate of Dubai and the implications of such an environment on the financial sector in UAE as a whole, which could reflect positively on the country’s performance in global competitiveness rankings.”
Noteworthy, FCSA is so dedicated to promoting joint cooperation with various authorities and institutions in both public and private sectors. By the end of 2017, FCSA hosted more than 60 official delegations and visits at its headquarters, that is receiving more than one official visit per week from various local and out of the country entities. Indeed, FCSA believes in the importance of participatory work aiming at achieving joint interests and future visions for a knowledge-based society which is supported by accurate and transparent statistics and data based on innovation.
H.E. Reem bint Ibrahim Al Hashimy:
- Happiness is the guiding gauge for sustainable development.
H.E. Ohood bint Khalfan Al Roumi:
- The ‘SDGs In Action’ forum reaffirms that happiness as key to the success of sustainable development.
Dubai, February 5, 2018
The National Committee on Sustainable Development Goals has included happiness and positivity on the agenda for the upcoming “SDGs In Action 2018” forum, set to take place on February 10, on the sidelines of the World Government Summit in Dubai.
The new addition sheds light on the role of happiness and positivity in achieving the objectives of the 2030 Agenda for Sustainable Development in the region and the world. Representatives from the National Happiness and Positivity Programme are set to take part in some of the Forum’s sessions, in order to showcase the UAE’s experience, vision and strategies for spreading happiness among members of the community, and highlight the pragmatic steps taken to implement these goals.
Her Excellency Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation, Chairwoman of the Federal Competitiveness and Statistics Authority (FCSA) and Chairwoman of the National Committee on Sustainable Development Goals, said: “Happiness and positivity are key to sustainable development in the UAE. Our country’s consistent high ranking on international happiness indices is a testament to the validity and success of our government’s policies, initiatives and services, all of which seek, first and foremost, to guarantee the wellbeing and happiness of the community. These efforts have catalysed growth in several key sectors in the UAE, boosting the country’s international competitiveness.”
“The inclusion of happiness in the Forum’s agenda adheres to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, to embrace happiness as a way of life. It is an opportunity to highlight the visions and strategies adopted by the government to ensure that happiness is treated as a means to achieve sustainable development,” H.E. Al Hashimy added.
For her part, H.E. Ohood bint Khalfan Al Roumi, Minister of State for Happiness and Wellbeing, Director General of the Prime Minister’s Office at the Ministry of Cabinet Affairs and the Future, said: “The accelerated pace of development and prosperity in the UAE is a reflection of the legacy that our Founding Father, H.H. the late Sheikh Zayed bin Sultan Al Nahyan, had established for us to keep moving forward, realise the vision and aspirations of our wise leadership, and implement plans and strategies to promote the happiness and wellbeing of our people. This vision closely resonates with the United Nations’ 2030 Agenda for Sustainable Development, which seeks to make the world a better place. The UAE was one of the first nations to support this Agenda and synchronise it with our national priorities.”
“The ‘SDGs In Action 2018’ forum is an important milestone in the quest to establish the happiness of individuals as a key ingredient in the success of sustainable development efforts,” H.E. Al Roumi continued. “We are committed to building strategic partnerships and bridges of cooperation and communication with all entities involved in implementing the 2030 Agenda in the UAE, which would allow us to develop, apply and harmonise government plans, programmes and policies to support sustainable development and spread happiness.”
The forum is set to bring together 300 officials and decision makers from the government, the private sector and academic institutions from the UAE and abroad, to discuss a set of plans, strategies and initiatives aimed at achieving sustainable development in the UAE and the world. Participants will also explore the challenges inhibiting growth, and the UAE’s pioneering experience and impressive developmental track record, which has caught the world’s attention.
- Young Emiratis to take part in an event to discuss the implementation of SDGs on the sidelines of the World Government Summit 2018.
Dubai, January 30, 2018
The National Committee on Sustainable Development Goals applauded the great turnout from young Emiratis for the “SDGs in Action 2018” event, set to take place on February 10, 2018, on the sidelines of the World Government Summit, in an effort to engage the youth in SDG plans and programmes.
The UAE youth join more than 300 executives from various local and international public, private and academic establishments to discuss plans, strategies and initiatives that seek to achieve sustainable development, and address key challenges facing SDGs around the world.
Her Excellency Reem bint Ibrahim Al Hashemi, Minister of State for International Cooperation, Chairperson of the Board of the Federal Competitiveness and Statistics Authority (FCSA), said: “Harnessing young people’s energy and channelling it towards development plans is the key to successful sustainable progress. In line with the leadership’s wise vision to engage young people in decision making, UAE government officials are committed to encouraging young Emiratis to take part in international events of this scale, in an effort to hone their skills and build on their ideas and suggestions to address challenges and build a better future.”
“Through its National Committee on Sustainable Development Goals, the Federal Competitiveness and Statistics Authority is committed to engaging young people in the sustainability agenda,” H.E. Al Hashemi added. “Their involvement is the fruit of the many initiatives that brought together the Authority, the Committee, and the Ministry of State for Youth Affairs, since His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, announced, in February 2016, the world’s first ministry dedicated to the youth.”
H.E. Shamma bint Suhail bin Faris Al Mazrui, UAE Minister of State for Youth Affairs, Chairperson of the Emirates Youth Council, added: “We are delighted to be taking part in this event dedicated to the sustainable development goals, which offers opportunities to explore international best practices, exchange ideas, and build robust networks to empower the youth as they join the sustainable development efforts spanning all sectors in the UAE, the region and the world.”
“The UAE leadership prioritises investment in human resources – particularly, the youth,” H.E. Al Mazrui pointed out. “Federal and Local Government bodies have been instructed to set plans and strategies to empower the youth and prepare a generation of highly qualified professionals to carry on with the sustainable development efforts taking place across the country. This reflects our leaders’ faith in the youth, who they consider to be the engine and driving force behind sustainable development.”
“SDGs in Action 2018” is an international event that seeks to discuss pragmatic solution to achieve sustainable development, raise awareness around them among all segments of society, discuss national and international best practices in this field, open channels for effective communication between all parties involved, and extend bridges of cooperation to achieve these goals on a global scale.
DUBAI, 22nd January, 2018 (WAM)
The UAE occupied the first regional position and the 17th international position on the Global Talent Competitiveness Index, GTCI, according to the 2018 publication issued by INSEAD.
The report is a comprehensive annual index that measures how countries and cities grow, attract and retain talent, providing a unique resource for decision makers to understand the global talent competitiveness picture and develop strategies for boosting their competitiveness.
In this year’s report, the UAE advanced two positions in compared to last year’s ranking. The UAE retained its rank among the 20 best countries in the world on the index, topping GCC, Middle East and African countries
Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation and Chairwoman of Federal Competitiveness and Statistics Authority, FCSA, expressed her pride in this achievement and thanked all government authorities and private sector companies for their co-operation in supporting the UAE’s competitiveness.
She stressed that UAE’s progress in the talent competitiveness index proves to the world the efficiency of its comprehensive development strategy, based on the directives of its wise leadership, aimed at building a knowledge-based economy, as well as its success in providing an environment that attracts talent.
Malik Al Madani, Director of the Competitiveness Strategy Department in FCSA, stressed that the UAE is harvesting the fruits of years of hard work to provide a solid infrastructure and an attractive economic and investment environment as well as establish an advanced education sector. He pointed out that all these components promote the development of human resources in the country and support its progress and international competitiveness.
Al Madani also added that the UAE achieved an exceptional performance in a number of key pillars and sub-indexes in this year’s report, after occupying the first international position in five sub-indexes including easy employment, each employee’s productivity, and international students’ attraction
The report also indicated that the UAE achieved the second international position in the strength of work relations between the government and business index, economic blocs/free zones, attracting minds and talents, and the third international position in the foreign direct investment and technology transfer and maintaining minds and talents.
This year’s report also witnessed an improvement in a number of pillars and sub-indexes as the country jumped by 13 positions compared to last year’s ranking to the first international position in the professional and technical skills pillar, measuring the availability of the required professional and technical skills in the different labour market sectors.
The UAE secured the third place internationally in attraction, which evaluates its ability to attract the best skills from outside the country, in addition to the country’s advancement of 19 levels in this year’s report in the growth axis, which measures the average growth of talent available in the country.
Al Madani said that the country is working to achieve its vision of becoming one of the best countries in the world by the UAE Centennial 2071, by focusing on future foresight, building an economy based on knowledge, creating an attracting business atmosphere, following innovation, and providing an advanced knowledge infrastructure, which supports the creation and exchange of knowledge.
The 2018 edition of GTCI includes 68 variables (65 in 2017), covering 119 countries and 90 cities (respectively 118 and 46 in 2017). This year again, GTCI scores are led by developed, high-income countries.
Switzerland maintains its number 1 position, followed by Singapore and the United States.
European countries continue to dominate the GTCI rankings, with 15 of them in the top 25.
Among the non-European countries ranking high this year, are Australia (11th), New Zealand (12th), Canada (15th), the United Arab Emirates (17th), and Japan (20th) for example.
UAE is leading the Arab region for the fifth consecutive year in World Bank’s Ease of Doing Business report
- The UAE is among the top 10 countries in the world in five of the main topics of the report: Issuing building permits, Getting electricity, Registering Property and protection of minority investors
- The UAE is first globally in Getting Electricity and Paying Taxes topics
- The UAE achieved the highest jump in Resolving Insolvency with 35 ranks jump from last year’s rank
- UAE jumped 13 ranks becoming 1st regionally and 12th globally in Enforcing Contracts
Dubai, UAE 31st October 2017
The World Bank’s Ease of Doing Business 2018 report revealed today that the United Arab Emirates is ranked 21st globally and is ranked top of Arab countries for the fifth year in a row. Additionally, the report showed that the UAE is ranked in the top ten globally in five of the reports 10 topics. The UAE is first globally in ‘paying taxes’ and ‘getting electricity’ topics, UAE also ranked 2nd globally in ‘dealing with construction permits’ and 10th globally in ‘registering property’ and ‘registering property’. According to the methodology adopted by the World Bank for the current year, the UAE jumped from 26th place globally to 21st, ahead of all countries in the Arab region covered by the report and for the fifth year in a row.
Commenting on this achievement, Her Excellency Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation and Chairwoman of Federal Competitiveness and Statistics Authority, said that the performance of the United Arab Emirates in this year’s report is the result of months of collaboration, hard work and commitment by both federal and local government entities with the Competitive Strategy team at the Federal Competitiveness and Statistics Authority. “Our wise leadership has emphasized the strategic importance of building a business environment that attracts investors from within and outside the country. The UAE was built on the forearms of our founding fathers, who worked in trade and welcome traders from all over the world. We will continue on this path to realize the vision of our leadership’s vision for the UAE to become one of the best countries in the world by the centennial of the founding of the State," added her excellency.
His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy, stressed the important role played by small and medium enterprises as the infrastructure of any economy around the world. "Each year, the UAE demonstrates its ability to compete globally across various sectors. This is thanks to the guidance of the wise leadership of the UAE and a strategic vision that aims to elevate the UAE to become the best country in the world by 2071," added his Excellency Al Mansouri.
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, praised the efforts exerted by Ministry of Finance teams and the cooperation of both federal and local government entities to improve UAE’s global competitiveness. "The Ministry of Finance has adopted an innovation-driven strategy in its continuous development efforts of all the services extended to individuals and institutions alike. The Ministry also implements best financial management practices to maintain the continuing improvement of the national financial ecosystem and building a stable and sustainable economy characterized by flexibility and diversity. The UAE’s performance as the 21st best globally in the World Bank report is a global testament to the success of the country’s strategy to build an advanced economic infrastructure and financial system that ensures prosperity and prosperity and achieves global leadership. "
His Excellency Abdullah Mohammed Al Basti, Secretary General of the Executive Council of Dubai and member of the Board of Directors of the Federal Competitiveness and Statistics Authority, said: "We are very excited with the UAE’s progress in this report and achieving 21st position in the world. I am also proud of the role played by Dubai government entities, which represents the UAE in many topics of this report. This accomplishment is attributed to the successful developmental policies adopted by the wise leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and their vision which is built on innovation and the drive to collaborate to achieve national plans, to reach global leading ranks across all fields and sectors."
According to this year’s report, The World Bank’s report acknowledged the country’s efforts to improve procedures and laws related to the process of establishing companies and facilitating procedures for both domestic and foreign investors. The World Bank report this year officially documented four improvements in the following topics: Dealing with Construction permits, Getting Electricity, Access to Credit and Resolving Insolvency.
These improvements are the outcome of the hard work and dedication of over 50 government official and expert who work all year long to with the strategy competitiveness team at the FCSA working on workshops, simulations, paper work and field visits to the World Bank headquarter in Washington DC.
The Doing Business report issued by the World Bank and the International Finance Corporation (IFC) in Washington and assesses 190 countries that are subject to government measures that affect 10 areas of business life and they are (1) Staring a business, (2) Dealing with construction permits, (3) Getting Electricity, (4) Registering Property, (5) Getting Credit, (6) Protection of minority investors (7) Paying taxes (8) Trading across-borders (9) enforcing contracts and (10) resolving insolvency.
H.E. Abdulla Lootah is the Deputy Minister of Cabinet Affairs for Competitiveness and Knowledge Exchange, delivered a lecture at the New York University (NYU) in the United States.
During the lecture, His Excellency called for the strengthening of academic and research partnerships to achieve the 17 Sustainable Development Goals.
The lecture was attended by NYU graduate students from the School of Professional Studies, the Global Affairs and Global Security Program, and Conflict and Cybercrime Program, and the Division in Programs in Business and Global Sport.
His Excellency discussed the importance of the role of academic institutions and universities in promoting international cooperation and partnership, knowledge exchange, capacity building, and excellence in the research and development efforts. He reiterated that doing so will also contribute to SDG 17 – which calls for plans to revitalize global partnerships for sustainable development.
Attended by Angie Kamath, Dean of the NYU School of Professional Studies, along with NYU’s administrative, academic, and research members, the lecture highlighted the UAE’s multi-faceted competitiveness, positioning it as a worldwide focal point for visionaries, researchers, and accomplished professionals who have chosen the UAE as their home and workplace.
Positive Growth Rates Surpass Expectations: UAE Economy Demonstrates Resilience with a 7.9% Growth in Gross Domestic Product (GDP).
Abdullah bin Touq:
· The UAE government adopts an innovative economic model that serves its future vision through the adoption of flexible economic policies that align with global changes.
· The numbers confirm the robust economic performance of the country, achieving positive growth rates that exceeded the estimates of analysts and specialized international institutions.
· Estimates of the Gross Domestic Product (GDP) at current prices for the year 2022 exceeded 1.86 trillion dirhams, and at constant prices, 1.62 trillion dirhams.
Dubai, June 25 (WAM) – Minister of Economy Abdullah bin Touq Al Marri affirmed that the preliminary estimates for the Gross Domestic Product (GDP) of the UAE for the year 2022, issued by the Federal Competitiveness and Statistics Center, confirm the resilience of the country’s economic performance. It achieved positive growth rates that exceeded the estimates of analysts and specialized international institutions. The GDP of the country in 2022, at constant prices, reached 1.62 trillion dirhams, achieving a positive growth of 7.9%. At current prices, it reached 1.86 trillion dirhams, with an increase exceeding 337 billion dirhams compared to 2021, achieving a growth of 22.1%. This reflects the wisdom of the economic policies pursued by the government of the UAE and confirms the strength and stability of the UAE economy amid the global economic conditions and geopolitical repercussions.
His Excellency said: " The government of the United Arab Emirates, thanks to the visionary leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, the President of the State, may God preserve him, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President of the State, the Prime Minister, the Ruler of Dubai, may God protect him, works on building an innovative economic model that serves its future vision. This is achieved by adopting flexible economic policies that rely on speed and accuracy in responding to global changes. The government also embraces stimulating economic strategies, proactive economic plans based on economic diversification, and improvements in economic procedures and legislation. This preserves the country’s status as an attractive investment environment continuously, enhances foreign trade, and openness to the world as a component of international economic relations. The success and integration of these policies meet the requirements of sustainable development, achieve economic prosperity, and ensure a decent life for all citizens and residents of the country. Moreover, they contribute to establishing the leadership and competitiveness of the UAE at both regional and international levels."
H.E Hanan Ahli, Director of the Federal Competitiveness and Statistics Centre, commented, "The results and figures achieved confirm that the country’s economy continues to grow, both at the overall level and in terms of key economic sectors and activities. This contributes to reinforcing the policy of economic diversification by increasing the relative importance of non-oil activities in the national economy. It aligns with the state’s economic policies to reduce reliance on the oil economy, establish a knowledge-based and innovative economy, and enhance non-oil national industries."
Her Excellency added, "The per capita share of the Gross Domestic Product (GDP) in the UAE has grown by an unprecedented rate of 24.7% over the past six years, despite the annual increase in the population. In 2022, the per capita share of the GDP achieved a growth rate of 21.1% compared to 2021, confirming the resilience and success of the UAE economy. It also affirms the success of the economic policies pursued by the government in achieving prosperity and a high quality of life in the society of the UAE."
Enhancing the growth of the country’s Gross Domestic Product (GDP) in 2022.
The activation of innovative economic initiatives related to non-oil sectors and activities positively contributed to enhancing the growth of the country’s Gross Domestic Product (GDP) in 2022. The GDP at constant prices amounted to 1 trillion, 623 billion, and 517 million dirhams. The non-oil GDP at constant prices reached 1 trillion, 174 billion, and 615 million dirhams, achieving positive growth across vital sectors.
According to preliminary estimates of the Gross Domestic Product released by the Federal Competitiveness and Statistics Center, the value added to transport and storage activities had the largest share of growth in the GDP at constant prices, unprecedentedly reaching 20.2% compared to 2021. This was driven by an increase in international flight passengers and the country’s growth in air transport movements, with national airlines achieving the highest growth rate in recent years in this tourism-related sector.
The accommodation and food services sector, reflecting hotel and restaurant activities, also experienced significant growth of 13.2%. Additionally, health and social services activities demonstrated remarkable growth, reaching 13% compared to 2021.
The non-oil sectors played a crucial role in supporting the national economy and enhancing the growth of the country’s Gross Domestic Product (GDP). The manufacturing industries achieved added value in the GDP amounting to 179 billion dirhams, registering a growth rate of 8.7% compared to 2021. The most significant contribution of non-oil sectors to the GDP was represented by the value added in the wholesale and retail trade activity, reaching approximately 206 billion dirhams. This accounted for a contribution rate of 12.7% to the UAE’s overall GDP.
Real estate activities also experienced growth in 2022, amounting to 12% with a value of around 90 billion dirhams in GDP at constant prices. The positive growth in non-oil activities also had a favorable impact on the financial and insurance sector, which achieved a growth rate of 8.4%, contributing 134 billion dirhams to the overall constant GDP in 2022.
Dubai, Feb. 16 (WAM) — In a move to promote digital transformation in the UAE and to employ big data to support decision-making, the Federal Competitiveness and Statistics Center (FCCC) announced on the sidelines of the World Government Summit, which concluded yesterday in Dubai, the signing of cooperation agreements and strategic partnerships with the aim of benefiting from the large inventory of big data produced by major international and national companies producing data, thus contributing to supporting decision-making and building development policies and strategic initiatives.
The cooperation and partnership agreements signed by the Federal Competitiveness and Statistics Center included the signing of an agreement with Visa, a global leader in digital payments, as well as an agreement with Majid Al Futtaim, one of the oldest national brands with a regional reach, which owns a major chain of shopping malls, stores and entertainment establishments in the Middle East and North Africa.
– Visa and partnership in vital sectors.
Under the cooperation agreement with Visa, the UAE government, represented by the Federal Competitiveness and Statistics Center, will be able to develop development initiatives. Based on the data provided by Visa to the health, education, tourism, consumption and other vital sectors data, which contributes to drawing an accurate perception of reality that is reflected on the community through innovative government initiatives, which contribute to improving the quality of life and promoting sustainable well-being.
– Majid Al Futtaim, mutual collaboration for knowledge partnerships. According to the agreement signed between the Federal Competitiveness and Statistics Centre and Majid Al Futtaim, the two parties will work together to cooperate in the fields of statistical data and information, exchange experiences and information to enhance the country’s competitiveness in global reports and indicators, in addition to cooperation in the implementation of statistical surveys, training and holding seminars and workshops related to data science and statistics.
Joe Abi Akl, Chief Corporate Development Officer and Chief Communications Officer, Majid Al Futtaim Holding, stressed the importance of strategic partnerships and understandings between the public and private sectors, which represent an added value in optimizing the use of data to support innovative initiatives and knowledge-based government policies.
It is worth noting that all data The resulting agreements of understanding concluded between the Federal Competitiveness and Statistics Center and its strategic partners are guaranteed confidentiality and protected by the Federal Law on the Protection of Personal Data, which represents an integrated framework to ensure the confidentiality of information, and protect the privacy of community members by providing sound governance for data management and protection, as the law defines the general frameworks for dealing with data, how to collect, process and store it, means to ensure its protection, and the rights and duties of all concerned parties.
International day of sign language
His Highness Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, received, at his office at the Amiri Diwan, the members of the Higher Committee for Coordination of Statistical Work at the State level
Professor Jeffrey D. Sachs, President of the UN Sustainable Development
Highlights of H.E Noor AlKhulaif, Minister of Sustainable Development
Intro to UNCEBD Task Team Training Competencies Capacity Level
UN Regional Hub for BIG DATA in UAE WEBINAR SERIES
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