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UAE Ranks 4th for Doing Business in the Arab World

posted on 11/11/2008: 1877 views

The International Finance Corporation (IFC) and World Bank have issued a joint report on ‘Doing Business in the Arab World 2008, and their findings has established that the UAE is ranked fourth in the Arab world and 46th globally for the ease of doing business.

The joint report has also analysed the reform process-taking place in the Arab world on the improving business climate.

The report has ranked nations recognising their efforts in easing tight regulatory controls, where UAE has fared well in all ten categories, according to the report.

In the area of paying taxes, the UAE is secured second position in the Arab world and fourth in the world, as only 14 payments have to be made in a year, which take 12 hour per year, while 14.4 per cent of the profit is charged as total tax.

In terms of registering properties, the ranking won is second in the Arab world and 11 in the world as there are three procedures, which take six days costing just two per cent of property value.

For starting a business, the UAE is ranked 113 globally and 11 in the Arab world as it takes eight procedures and 17 days to complete them.

For protecting investors in the country, the ranking is 10 in Arab world and 113 in the world. It got four marks out of ten for the extent of disclosure index, seven on extent of director liability index and two for the ease of shareholder suits index and 4.3 for strength of investor protection index.

For getting a credit, the UAE has got highest ranking of two in the Arab world, against 68 in the world, as it got four out of ten in the strength of legal right index, five out of six in the depth of credit information index.

The public registry coverage is available to 6.5 per cent of adults and while private bureau coverage is covered by 7.7 per cent of adults. – Khaleej Times


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