The United Arab Emirates have achieved recognisable progress in its global competitiveness ranking this year according to the IMD World Competitiveness Yearbook 2012. The UAE jumped 12 places - from 28th in 2011 to 16th - in the annual report, which ranks the world's 59 most advanced countries. UAE had the greatest ranking increase of any country surveyed.
Strong improvements in business efficiency, productivity and economic performance were the main drivers of the UAE's increased rankings. Continued modernisation of UAE's business legislation, which is fundamental to the business environment and competitiveness of the country, also contributed to the increased ranking.
"We are especially pleased with this year's results as the IMD World Competitiveness Yearbook is one of the most comprehensive annual global reports on advanced countries' competitiveness. The fact the greatest ranking improvements were in business efficiencies, namely productivity, management practices, and attitudes and values make these improvements all the more significant, given our peers." said Her Excellency Reem Al-Hashimy, Minister of State and Chairwoman of the Emirates Competitiveness Council.
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