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Mon 30 Mar 2009 11:29 AM

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Dubai has most 'competitive' economy in ME

Research of 65 economies ranks Dubai 16th, Kuwait 30th and Saudi 48th.

Dubai has the most competitive economy in the Middle East and ranks higher for its competitiveness than Japan, Germany, France and New Zealand, according to a new study.The emirate ranked 16 out of 65 economies surveyed as part of the National Competitiveness Report 2009, published by the Institute for Industrial Policy Studies at the National University of Seoul, in South Korea.

The Korean institute has published the National Competitiveness Report annually since 2001, but this the first time that it has included Dubai, according to WAM news agency.

The US ranked number one in this year's study, followed respectively by the Netherlands and Denmark.

Saudi Arabia, the Gulf's largest economy, was placed in 48th position, while Oman was ranked at number 42 and Kuwait took the number 30 spot.

Dubai's strengths included its achievements in health and environment, intellectual property rights, corporate governance, government business strategy, and attracting foreign direct investment, the study said.

Areas where it needed to show improvement included ethics and transparency, education and the quality of its work force, the study added.

"This is one of the first steps towards our efforts in locating Dubai's position in the global markets," said Adel Al Falasi, Executive Director of the Dubai Competitiveness Council.

"The Dubai Competitiveness Council is trying to identify specific models and set of indexes for assessing competitiveness of cities and regions, which will enable us to target and address the obstacles to Dubai's global competitiveness [on a] timely [basis] as global markets evolve," he added.

Professors Dong-Sung and Hwy-Chang Moon, who authored the report, said Dubai appeared to be focused on rectifying and improving some of the weaknesses it had.

The Dubai government had shown it was already taking steps to support the development of a more mature and stable economy, they added as they presented their findings at a new conference on Sunday.

hombil 10 years ago

It would be interesting to know the period over which the survey was done. In current global economic scene, I am sure the report would show a different picture.

ahmed sami 10 years ago

as a reminder to the researchers who have done the study : "Dubai is a city not a country?!" so how come US ranked 1st, Holland 2nd, Denmark 3rd and Dubai ranked 16th?!

Nicola 10 years ago

I am of the opinion that the last years of economic boom was exaggerated in all aspects. It's like a car, an accident at 50 km/h has an impact while at 200 km/h another. The slow down its showing a more stable and mature economy which is essential in order to look at the future with optimism. Today I am certanly more optimist than one or two years back.

Nader 10 years ago

This article is completely baseless. Competitiveness in what? Building, the basic infrastructure is not there. The northern emirates are until to now without a sewage infrastructure. The internet is horrible and still the slowest compared to France and Japan.