UAE Stays Top MENA Economy

DUBAI – The UAE remains the best country for doing business in the Middle East and North Africa (Mena) region for yet another year, as it introduced 4 new reforms in the last 12 months, the World Bank said in its latest report.

The World Bank praised the UAE, saying that the business regulatory reforms introduced by the emirates served as an inspiration. Through the UAE slipped 5 rankings globally to the 16th position in the World Bank’s Ease of Doing Business 2020 report, it is still rated friendlier than Finland, Germany, Canada, Ireland, Japan, France, Switzerland and a member of other developed countries.

The UAE introduced 4 new reforms last year, joining 115 other countries who made it easier to do business there.

Four Reforms Introduced by UAE: •Cut in fees for business incorporation •Dealing with construction permits easier •Protection of minority investors •Trading across borders made easier

“The next generation of reforms should focus on transparency, fair competition and good governance” – Ferid Belhaj, regional Vice President for MENA at World Bank.

“Closer integration between free zones and onshore UAE further promotes the ease of doing business in the UAE” – Sarah Kadhum, associate at BSA Ahmad Bin Hezeem & Associates LLP

Published in Khaleej Times.