According to World’s Bank Doing Business 2013 report, the “doing business in Dubai, UAE” ranking has moved to seven spots up this year which is countries’ biggest jump in global ranking. The UAE has leaped from 33rd position from last year to 26th this yaer as according to the World bank report, making it the only one country in the Middle East and North Africa region that had such position improvements in its global competitiveness ranking.
The report on doing business in UAE was prepared by the World Bank and the private sector arm of the International Finance Corporation and emphasized that the UAE has done a tremendous progress in business reforms such as ease of starting a business, getting electricity, paying taxes (fees) as the main reasons to promote country in the global ranking.
The country continues to focus on improvements of legal environment and continues to simplify the government services. The main purpose of the country is to become one of the world’s best nations by 2021. Among all other GCC countries, the UAE’s ranking is way ahead (except for Saudi Arabia – 22nd place), whereas Qatar is ranked 40th, Bahrain – 42nd, Oman – 47th and Kuwait – 82nd.
In addition, the UAE has undertaken new changes in the reform that will be introduced in the region such as the renewed opportunity for the government to invest in governance structure and to increase transparency along with the effort to improve the business regulatory environment.
Considering all the above, the highly developed infrastructure, clear legislation and low taxation doing business in Dubai, UAE is the attractive option to consider for local as well as for international business.