The United Arab Emirates has ranked 19th globally in the Global Entrepreneurship Index (GEI) Report 2016, advancing one spot from last year and surpassing countries such as Norway, South Korea, Turkey and Japan.
The UAE topped the list of countries within the Middle East and North Africa region, which comprises 15 countries, including Turkey.
An analysis of the UAE's performance in the GEI Report, prepared by the Federal Competitiveness and Statistics Authority, based in Dubai, showed that the country has advanced in a number of indicators and themes in the annual report issued by the International Institute for Entrepreneurship and Development, based in Washington.
Abdullah Nasser Lootah, Director-General of the Federal Competitiveness and Statistics Authority, said in a press statement yesterday that the Authority hoped to achieve the best performance in the report by 2017.
Lootah stressed that the UAE's placement among the best countries for entrepreneurial projects was a global certificate that assessed the wise leadership's great interest in and the government's commitment to the success of entrepreneurs in the country.
The report determines the readiness of each country and its institutions in five basic stages under a fixed methodology, examining its ability to accommodate entrepreneurial projects and evaluating various regulatory, operational, service, educational and even cultural and social issues.
The UAE placed within the "Top Quartile," comprising the 26 best nations in the world, led by the United States of America.
This quartile includes countries that provide the best services for entrepreneurial projects in terms of providing the appropriate legislative, regulatory and operational environments based on the nature of the entrepreneurial projects and entrepreneurs. The availability of funding opportunities and the existence of moral support, incentive laws and initiatives and the availability of technology and other factors that facilitate the success and growth of entrepreneurial ventures, among other things, were all considered during the evaluation.
© Emirates News Agency – WAM
29 March 2016