UAE is ‘top mover’ in the world; 10th for ‘power’

By Eudore R. Chand

ABU DHABI 27 January 2018: The United Arab Emirates (UAE) has been ranked 1st in the world in terms of being different and distinctive and 10th in the world in the way it projects its power on the global stage.

The UAE is also ranked 23rd in the ‘Best Countries Overall ‘category, the only Arab country to appear in the top 30.

The accolade is given in the 2018 Best Countries rankings, covering 80 countries and published by the newspaper US News and World Report. The rankings assess the results of a study and model devised in collaboration with the BAV Group of global communications company Y&R and The Wharton School of the University of Pennsylvania, said Wam.

The Movers category assesses a country in terms of it being “different, distinctive, dynamic, unique.” In other subsidiary rankings, the UAE was ranked 17th for Cultural Influence, covering “culturally significant in terms of entertainment, fashionable, happy, has an influential culture, modern, prestigious, trendy”, and 23rd for Entrepreneurship, covering “connected to the rest of the world, educated population, entrepreneurial, innovative, provides easy access to capital, skilled labor force, technological expertise, transparent business.”

Quality of Life

For Quality of Life, covering “a good job market, affordable, economically stable, family friendly, income equality, politically stable, safe, well-developed public education system, well-developed public health system,” it was ranked 25th.

All of the 80 countries included in the rankings had to meet four criteria within the last two years for which data are available specific to each benchmark to be included in the study. The criteria are that the countries should be included among the top 100 countries in terms of gross domestic product in 2015 or 2014, based on World Bank data, the top 150 countries in the UN’s Human Development Index, based on the 2015 or 2014 report, the top 100 countries in terms of foreign direct investment inflows in 2014 or 2013, based on United Nations data, and the top 100 countries in terms of international tourism receipts in 2014 or international tourism arrivals in 2013, based on World Bank data.

Collectively, the 80 countries account for about 95 percent of global gross domestic product and represent more than 80 percent of the world’s population. They span the globe, covering Africa, Asia, Central America, Eurasia, Europe, the Middle East, North America, Oceania and South America.

UAE ranks 13th Most Promising Economy for Investment in UN survey

DUBAI: The UAE has been named the 13th Most Promising Home Economy for Investment in 2017-19 according to a survey conducted by the United Nations Council for Trade and Development, Unctad, and Investment Promotion Agency, IPA, Observer.

The ranking, published in the Unctad’s recently released annual World Investment Report, WIR 2017, reflects the UAE’s liberal and investment-friendly business policies as the country also moves up in the World Bank’s Doing Business ranking for 2018 to 21.

The UAE International Investors’ Council, UAEIIC, a semi-government investment institution with an objective to promote two-way investment, has announced its partnership – as Official Investment Partner – with the Annual Investment Meeting, AIM, to be held at the Dubai World Trade Centre from April 9th-11th, 2018, that is expected to boost the US$1.85 trillion global FDI flow expected in 2018. AIM will be held under the theme, ‘Linking Developed and Emerging Markets through FDI: Partnerships for Inclusive Growth & Sustainable Development’.

The decision comes as the UAE prepares to liberalise its foreign investment laws allowing greater foreign ownership in local companies in key sectors – that will help a greater inflow of investment in to the UAE – a major foreign investment destination.

AIM, the largest annual gathering of government ministers, trade bodies, chambers of commerce and industries, investment authorities as well as private investor groups, will see a flurry of activities including investment policy reforms, ease in doing business to allow greater flow of capital and goods movement across the region.

According to the World Investment Report 2017, global investment flow declined 2 per cent to US$1.75 trillion in 2016.

“Flows to developing economies reached $646 billion in 2016, Unctad report shows.

“The flow of outward investment from developing economies registered a 1 per cent decline to $383 billion, despite a surge of outflows from China, now the second largest investing country in the world,” said the World Investment Report 2017.

“A modest recovery in global FDI flows is forecast for 2017, although flows are expected to remain well below their peak of 2007. A combined upturn of economic growth in major regions and improved corporate profits will boost business confidence, and consequently MNEs’ appetite to invest,” said the World Investment Report 2017.

“A cyclical uptick in manufacturing and trade is expected to result in faster growth in developed countries, while a likely strengthening of commodity prices should underpin a recovery in developing economies in 2017. As a result, global FDI flows are expected to increase by about 5 per cent in 2017 to almost $1.8 trillion.”