Sheikh Mohammed reviews UAE’s performance in global rankings

The report presented by the Federal Competitiveness and Statistics Authority said the UAE ranked first globally on 121 parameters

Mohammed bin Rashid, Vice President and Ruler of Dubai, at a UAE Cabinet meeting on Sunday. All photos courtesy Dubai Media Office

The meeting discussed several key policy developments

And reviewed the country's global competitive standing

The UAE does not have a development option other than to excel and continue. Regressing is not an option, said Sheikh Mohammed

Sheikh Mohammed said the meeting approved federal structures for the ministries of Economy, Culture, Energy and Industry and approved new laws to develop private education in the country

Sheikh Mohammed said the UAE ranked in the 10 most competitive countries globally in 300 international indicators

A set of economic agreements with Egypt, Chile, Zambia and others were agreed

Sheikh Mohammed said 2020 was an exceptional year despite the challenges of Covid-19 and marked the year of the Mars mission, of nuclear energy and of peace and international competitiveness

Sheikh Mohammed bin Rashid reviewed the UAE’s performance in important global rankings on Sunday during a Cabinet meeting.

The Vice President and Ruler of Dubai said the country’s rise in such rankings is due to the government’s performance and its efforts in improving the quality of life for its citizens and residents.

The Cabinet meeting was held at Qasr Al Watan in Abu Dhabi where ministers reviewed a report on the performance of the country in important global rankings.

The report presented by the Federal Competitiveness and Statistics Authority said that the UAE ranked first globally on 121 parameters, first in the Arab world on 479 competitive indicators, and among the top ten countries on 314 indicators.

The Cabinet approved four new organisational structures for the Ministry of Economy, Ministry of Culture and Youth, Ministry of Industry and Advanced Technology, and Ministry of Energy and Infrastructure.

A federal law that will help raise the quality of education and increase healthy competition between private schools was also approved.

The law will also regulate the licensing of private schools and keep a tab on their curriculum and the safety of pupils.

The Cabinet also approved federal laws on the amendment of the penal code (Criminal Law), the Commercial Transactions Law, the Securities and Commodities Law, the Insurance Law, and the organisation of the telecommunications sector law.

It approved the executive regulations of the federal healthcare law and approved agreements to avoid double taxation between the UAE and several countries such as Chile, Egypt and Zambia.

Ministers also approved an agreement with Zambia to boost bilateral investments.

The Cabinet also reviewed financial statements of the Emirates Development Bank and the report of the external auditor for the fiscal year 2019.