UAE ranked in top ten worldwide for economic reform
10 September 2009
The United Arab Emirates are among the top ten countries worldwide that have brought in economic reforms to foster entrepreneurship, according to a report by the World Bank and the International Financial Corporation (IFC), which studied 183 economies between June 2008 and May 2009.
In the rankings, which assess the ease with which one can start a business, the UAE are in 33rd place, having moved up 13 places since the previous year due to the elimination of minimum capital requisites for the opening of a business in the seven-emirate confederation and due to procedural simplification.
Among the top ten countries as concerns reform there is also Egypt, though still behind in 106th place. Among Gulf countries, Saudi Arabia is in 13th place, followed by Bahrain in 20th, while Qatar is in 39th and Kuwait in 61st. According to the study, the MENA (Middle East and North Africa) region saw the greatest increase in economic reforms in the world.
Source: ANSAmed