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UAE leads the GCC in economic diversification efforts

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“Emerging markets will encounter opportunities and challenges informed and shaped by the new dynamics created after the Covid-19 pandemic.”

Said: Niels Zilkens, Head, Arabian Gulf at UBS Global Wealth Management

The UAE led the regional group in terms of economic diversification efforts and ranked 16th on global rankings for ease of doing business.

The UAE’s ease of doing business has improved 12 points over a five-year period, suggests the report released by the Chief Investment Office of UBS Global Wealth Management.

Geographical and cultural proximity, fewer barriers to trade, a business-friendly environment, a diversified economic structure in production and a skilled workforce are key to economies that respond effectively to changing supply chains.

The UAE government has also effectively addressed the functioning of supply chains, which is critical to food security, emphasizing the leadership’s focus on the localization of food production, which aims to diversify the supply mix and offer a wide range of opportunities. of investment.

To view the full article, visit the website: GulfBusiness

 

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