The United Arab Emirates has always thrived to enhance its position as a global leader in doing business, and as an attractive environment for business and investment opportunities. The efforts of the government and the different economic sectors, have contributed to the economy of the UAE in being amongst the highest ranked economies of the world in a number of major international competitiveness reports.
The UAE ranked 24th in The Global Competitiveness Report 2012-2013 issued by the World Economic Forum, after being ranked 27th during 2011-2012. The UAE’s economy has for seven consecutive years proved that it is the only Arab economy based on creativity and innovation. Consequently, the United Arab Emirates has been ranked ahead of leading countries such as Australia, Italy and Spain. The UAE’s rank in the "labor market efficiency" index surged by 21 points to reach 7th globally, and in the “Quality of Institutions" index it advanced by 10 points.
In addition, the UAE improved its rank in the World Bank’s Doing Business Report for 2013 in which it ranked 26th globally. The UAE topped the world in ease of paying taxes as a result of non-existent corporate income tax schemes as compared to other countries in the world. The UAE Also ranked first among Arab countries in the Ease of starting a business index as a result of actions taken by the government to facilitate doing business and enhance competitiveness.