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UAE team meet with World Bank to help ‘ease business’

The UAE Executive Team for Ease of Doing Business Indicators has met World Bank experts in Washington to discuss key files and issues relating to the Human Capital Index, Women, Business and the Law – a series of biennial reports measuring gender discrimination in legal treatment, and examining its economic consequences – Rule of Law Index, Ease of Doing Business Index, Subnational Doing Business Index and Income Inequality – Income Distribution Index.

The 21-member UAE team includes federal and local officials from the Federal Competitiveness and Statistics Authority, FCSA, Ministry of Finance, Securities and Commodities Authority, Dubai Competitiveness Office, Dubai Municipality, Dubai Courts, Dubai Electricity and Water Authority, Dubai Land Department and Dubai Trade.

Hanan Ahli, Head of Executive Team for Ease of Doing Business Indicators, and Executive Director of Competitiveness Sector, Federal Competitiveness and Statistics Authority, emphasised the importance of these meetings which enable the team to promote and export the UAE model in developing and upgrading legislations concerning ease of doing business in countries covered by the World Bank Ease of Doing Business Index.

”These regular meetings with the World Bank back out team’s efforts to have a better understanding of any methodological changes or adjustments in the index and adopt them in partnership with other government and private stakeholders with the aim of maintaining the UAE’s lead in the index,” she added.

The UAE jumped 10 places in the World Bank’s Ease of Doing Business ranking to 11th position globally in 2019 from 21st position last year to lead the Arab world for the sixth consecutive year.

The country is fast closing in to become one among the top 10 in the Ease of Doing Business ranking of 190 countries by the World Bank.

In nurturing entrepreneurs, the report makes a special mention of the UAE’s progress in introducing new reforms and entry into the top 20 in the global ranking.

The report ranks economies on the basis of ease of doing business from 1 190. High ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Source: WAM

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