Gulf states work on their economic freedoms | GulfNews.com:
"Of the Gulf Cooperation Council (GCC) countries, the UAE made the strongest stride in the 2015 Index of Economic Freedom. The report, brought out by Heritage Foundation and Wall Street Journal stresses the importance of the private sector and investors in an economy.
The Index relies on a diverse number of variables related to the level of economic freedom, compromising in the main of the rule of law, property rights and freedom from corruption. The others relate to regulatory efficiency, specifically business, labour and monetary freedom; the extent of government role; and trade, investment and financial freedoms. In turn, each variable carries 10 points on the 100-point maximum scale.
Notably, the 2015 Index classifies three GCC economies — Bahrain, the UAE and Qatar — as being mostly free. Among other things, the three economies share fiscal and monetary policies reflecting the near absence of taxation."
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