Dubai has been ranked seventh globally in government efficiency and third in public finance, according to a new report.
The Competitiveness Report 2018 issued by the Swiss-based International Competitiveness Centre of the International Institute for Management Development (IMD) also placed Dubai first in the Arab world for government budget as a percentage of GDP.
Government efficiency, as evaluated in the report, was measured on economic performance, efficiency of the business environment and infrastructure.
Globally, Dubai ranked seventh in government efficiency and tax system, first in terms of government expenditure as a percentage of GDP, and third as a global financial hub, ahead of Singapore, Switzerland and all EU countries except Iceland.
Sami Al Qamzi, director general of the Department of Economic Development (DED) said the emirate has adopted a clear and streamlined approach to government work, supplemented by policies and plans that support business competitiveness.
As a result, he said Dubai has created a friendly and supportive environment for businesses.
"Dubai has set a high benchmark for both government and business efficiency," said Al Qamzi. "The emirate features among the strongest and most dynamic economies on the global competitiveness map. The initiatives of the Government of Dubai have boosted the emirate's position in infrastructure efficiency, making it the world's fourth best in basic infrastructure, ahead of developed economies such as Hong Kong, France, Japan, Switzerland and Denmark.”
Recent DED initiatives such as Instant Licence, which enables businessmen and investors to obtain a trade licence in one step and within five minutes, have also helped Dubai to rank first in the world for the number of start-up procedures and time required to obtain a commercial licence).
In terms of the adaptability of government policy to changes in the economy and the extent of implementation of government decisions, Dubai ranks third globally.
The emirate also ranks first in terms of population growth and number of internet users (906 users per 1,000 inhabitants) in addition to being third globally in low dependency rates.
Globally, Dubai stands second in the openness of the local culture to new ideas as well as in terms of the efficiency of economic and social reforms while the emirate ranks fourth worldwide in productivity in the service sector, ahead of Singapore and Hong Kong. The average number of working hours per year in Dubai is the fifth highest globally.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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