The UAE has ranked in the top five countries in the world for competitiveness, according to the results of a study which was discussed during a meeting of the UAE Cabinet.
The meeting, which was chaired by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, took place at Qasr Al Watan in Abu Dhabi on Tuesday.
The UAE's position in the 2025 Annual Competitiveness Report issued by the World Competitiveness Centre was on the agenda. The Emirates ranked fifth globally for economic competitiveness, government efficiency, legislative strength and business environment.
The highest-ranked nation was Switzerland, with Singapore, Hong Kong and Denmark rounding off the top four.
"We established a Competitiveness Centre 16 years ago and streamlined the efforts of the most important national institutions in this field," said Sheikh Mohammed on X. "Thanks to these efforts, the UAE advanced from 28th place globally in 2009 to the world’s top five most competitive countries."
The UAE's climbed two places from last year.
Housing support worth Dh1.2 billion ($330,000) was also approved for more than 1,800 Emiratis during Tuesday's meeting. The housing support, approved by the Cabinet, will enhance family stability, said Sheikh Mohammed in a post on X.
The Cabinet also approved the results and work of the Emirates Council for Balanced Development.
"The Council continues its efforts to implement projects and build national partnerships to develop the UAE’s villages across the tourism, development and social sectors. Its efforts have contributed to creating unique opportunities for families, young talents and small business owners," said Sheikh Mohammed.
"The Council’s message is that no part of the UAE, near or far, should be excluded from the massive development momentum our country is witnessing."
Growing in numbers
The amount of people using the UAE Pass digital identity system was also reviewed. The number of registered users was 11 million, with more than 600 million logins. The service now connects more than 13 government entities, Sheikh Mohammed said.
A restructuring of the country's attempts to tackle money laundering was also approved in Tuesday's meeting.
"Over the past few years, the committee has achieved remarkable success in strengthening strategies and procedures in the field of money laundering and combating the financing of terrorism at the national level," said Sheikh Mohammed.
"The committee will continue its work to ensure that the UAE remains a global leader in the field of combatting money laundering and the financing of terrorism."
The establishment of a Maritime Navigation Centre was also approved. The centre will manage and operate the integrated national maritime system, said Sheikh Mohammed, who is also Vice President.
The Cabinet also reviewed the 2024 report of the Higher Commission for Free Trade Negotiations. The report showcased the signing and conclusion of negotiations for 27 Comprehensive Economic Partnership Agreements with other countries, of which eight have already come into effect, the UAE Government Media Office reported.
New embassies will be established in Togo, Gabon, Cameroon and Tajikistan, alongside a UAE Consulate General in Miami in the US state of Florida, the media office said on Tuesday.
