The World Bank has released its annual Ease of Doing Business report, placing the UAE in 23 spot globally – up three places from its 2013 ranking.
The 2014 report, compiled with the International Finance Corporation (IFC) assessed the regulations of 189 economies, looking at how easy or difficult it is to do business in each of those countries.
The UAE’s position of 23 puts it above Saudi Arabia (26), Japan (27), France (38), Qatar (48), Spain (52) and Italy (65).
It also makes it the top economy in MENA, followed by Saudi Arabia, Bahrain, and Oman.
The index was compiled based on the rankings of each country in ten different categories: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
Regionally, the UAE topped five of the categories, coming second in two others, and sixth, seventh and tenth in the remaining three.
Globally, the UAE also topped the ‘paying taxes’ category, though didn’t fare so well in the ‘enforcing contracts’ category (100) or resolving insolvency category (101).
The country also ranked highly in the ‘trading across borders’, ‘getting electricity’ and ‘registering property’ categories, coming fourth, as well as fifth in ‘dealing with construction permits’.\
Of the other categories, the UAE came 37 in ‘starting a business’, 86 in ‘gaining credit’, and 98 in ‘protecting investors’.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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