Dubai ranks first in the Arab world in terms of government budget-to-GDP ratio and seventh in the world in terms of government efficiency, according to the 2018 Competitiveness Report issued by the Center for International Competitiveness of the International Institute for Management Development (IMD).
Commenting on this achievement, Director General DED’s economic development Sami Al Kamzi said that the emirate has adopted a transparent and streamlined approach to government work, complemented by policies and plans to torye maintain business competitiveness. As a result, Dubai has created a friendly and supportive business environment. The emirate is now a role model for countries in the region and the world. It competes with the most advanced cities.
“The emirate of Dubai is one of the strongest and most dynamically developing cities in terms of international competitiveness,” said Al Kamzi. The effectiveness of the government, as estimated in the report, is based on three central areas: economic efficiency, business efficiency environment and infrastructure. Dubai ranks seventh in the world in terms of government efficiency and taxation and third as an international financial center. With this indicator, the emirate ahead of Singapore, Switzerland and all EU countries except Iceland. Meanwhile, recent DED initiatives, such as the “Instant License”, which allows entrepreneurs and investors to obtain a trade license in one step within five minutes, helped Dubai to take the first place for ease of running a business. The initiative has reduced the time required to complete business registration and obtain licensing operations by 90 percent.
The Emirate also ranked first in terms of population growth and the number of Internet users — 906 users per 1000 inhabitants. Dubai ranks second in terms of the openness of the local culture to new ideas, as well as the effectiveness of economic and social reforms in the emirate. Dubai’s labor force is the third largest in terms of population.