The country has outperformed many of the major global economies such as the United States, Canada, the United Kingdom, Australia, the European Union countries, China, Japan and South Korea in the overall ranking of the index.
The UAE achieved an advanced ranking in many of the sub-indicators that were included in the 2020 version in the general index structure.
Most notably, the country ranked second in national governments’ response to the COVID-19 lockdown and its impact on the corporate sector.
With 7.3 out of 10 points, the indicator for access to general physical infrastructure and services also had a high ranking, outperforming Great Britain, the USA, Spain, Austria and Germany. The country also scored the same on cultural, social norms and support for society.
In addition, Norway and Italy ranked high in the sub-indicator R&D transmittance, ahead of Germany, the USA, the United Kingdom, Sweden and South Korea.
UAE Economy Minister Abdulla Bin Touq Al Marri said the achievement was a matter of great pride, which confirms the soundness of the approach and strength of the UAE’s economic policies.
“Its fourth global rank in the Global Entrepreneurship Index shows the success of the national efforts made over the past decade to develop the country’s entrepreneurship sector, highlighting the project model of SMEs as the main driver of economic diversification and sustainability and increasing its competitiveness global level level, “he noted.
Today the UAE have experience in supporting and organizing the entrepreneurship sector, building an integrated system to support and incubate entrepreneurial projects, accelerating its growth, and developing initiatives and programs that will make it a growth engine and an important contribution to ours Non-oil business do GDP.
Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, said the country’s excellent global ranking on GEI reflects the success of its efforts and ambitious aspirations stemming from the insightful vision of its wise leadership. “
“This is indeed a valuable addition to the country’s outstanding economic achievements. These efforts will continue in collaboration with the Ministry’s partners inside and outside the country to ensure that entrepreneurs in the Emirates become the best and most successful in the years to come Making world, “he added.