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28 May, 2021

UAE Ranks High in Global Entrepreneurship Rankings

The UAE has reinforced its position as one of the global leaders in ranking indices with respect to entrepreneurship.

 

Across the calendar year of 2020, over 13 different indices have ranked the UAE among the top 20 in terms of the competitiveness for entrepreneurship. The Federal Competitiveness and Statistics Centre has confirmed that these indices are from independent and unrelated sources.

 

UAE has surpassed several leading economies such as China, USA, UK, Canada and Japan, to emerge as a strong and competitive market for entrepreneurs. This is a result of progressive initiatives such as investment capital availability, positive SME climate and sheer business agility.

 

In addition, some measures such as the launch of long term residence visas, reduced cost for Government services and conducting key events have all led to the string performance of UAE across indices.

 

The UAE’s track record in entrepreneurship has been nothing short of unbelievable over the last year. This has driven the country to make it among the world’s pioneering nations in this sector, especially boosted by attractive and integrated legislative system, coupled with innovative initiatives and programmes.

 

These have all been well coordinated to provide an impetus to entrepreneurial initiatives and projects, in order to enhance their business growth.

 

Some of the top rankings obtained by UAE include

  • #6 in IMD World Digital Index
  • #6 in attitudes towards entrepreneurial risk (Travel & Tourism Competitiveness)
  • #8 in time required to start a business index (Travel & Tourism Competitiveness)
  • #9 in SME & Capital Cost Index
  • #10 in Corporate Debt Index
  • #11 in early-stage entrepreneurial activity index

 

The end objective has been to reduce the dependence on Oil sector for the GDP.

 

If you wish to capitalize on the lucrative business environment, contact us.

 

Source: khaleejtimes

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