Image for illustrative purpose only.
The pandemic has wreaked havoc on humanity. It has affected all spheres of activity including economic. But despite pressing times the UAE stands tall (“UAE leads as most competitive emerging market in GCC,” Feb. 9, Gulf Today).
The annual Agility Emerging Markets Logistics Index has given the UAE top spot overall as the most competitive emerging markets in GCC. Obviously it is because of the commitment of the government in promoting trade and commerce by adopting a pro-active climate in the country.
That the country topped all three individual sub-indices in the region shows that the country’s commitment to strengthening its business environment in the non-oil sectors alongside the successful implementation of the comprehensive national SME development strategy. The ranking is a feather in the cap of the leadership.
In fact the CEO of the rating firm summed it up accurately by stating that the “Gulf countries are pushing hard to diversify and integrate their economies by developing world-class infrastructure and creating fair, transparent conditions for business.” That indeed is the key on which rests the economic growth of not only nations situated in this region, but the world over.