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UAE Freezones Biz News Updates
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UAE’s achievement in WB’s report ups chances for Expo 2020
The
UAE has retained its rank as the first country in the Middle East and North
Africa, or Mena region in the same category.
Dubai Trade, the premier cross-border trade facilitator, has welcomed the
‘Doing Business 2014’ report released by the World Bank, or WB, and the
International Finance Corporation, or IFC. According to the report, the UAE
has moved to number 4 globally in the “Trading Across Borders” category up
from its 5th rank in 2013.
The UAE has retained its rank as the first country in the Middle East and
North Africa, or Mena region in the same category.
The UAE has jumped three slots this year to number 23 in the world in the
Ease of Doing Business report 2014, out of 189 economies ranked for this
year’s report. The UAE tops the Middle East and North Africa, or Mena,
region in 5 of the 10 parameters on which the Ease of Doing Business report
ranks the economies.
The UAE is the best place in the world in [ease of] paying taxes and fourth
in getting electricity, registering property, and trading across borders,
while it is the fifth best globally in terms of dealing with construction
permits heading the countries competing to host Expo 2020.
Jamal Majid bin Thaniah, chairman, Dubai Trade, welcomed the report and
said: “The UAE’s high ranking in this prestigious international report which
evaluates 189 economies across the globe, is another clear indication that
we are on the right track to achieving the goal set by our prudent
leadership to be one of the best countries in the world by 2021.”
He praised the role Dubai Trade plays in positioning the UAE as an
international trading hub by offering a host of electronic and smart
services to ease international trade. These measures have contributed in
facilitating trade procedures and made it less expensive compared to
developed countries. Currently in its 11th edition, the Doing Business
report compares business regulations in 189 economies.
It measures and tracks government regulations for small and medium-size
enterprises affecting 10 areas in the life cycle of a business: starting a
business, dealing with construction permits, getting electricity,
registering property, getting credit, protecting investors, paying taxes,
trading across borders, enforcing contracts, and resolving insolvency. Ahmed
Butti Ahmed, executive chairman of Ports, Customs and Free Zone Corporation
and director-general of Dubai Customs, said: “We are pleased that the UAE
has retained its position in the first place regionally and moved up to be
number four globally in facilitating trading across borders. The
extraordinary efforts of all stakeholders in the trading process had made
the UAE reach these impressive results.
“Dubai Customs was one of the first government entities to adopt eGovernment
practices. Service automation and innovative electronic services have
contributed to this achievement. Today, Dubai Customs is the first
government department to transform 100 per cent of its services into smart
services.”
31 Oct 2013 |
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Courtesy Khaleej Times
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