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1/23/25, 2:10 PM Minister of Economy reviews role of proactive initiatives in enhancing UAE economy’s competitiveness at regional, global levels - B…

The UAE delegation at Davos 2025, led by H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture,
includes more than 100 members including private sector representatives and government officials.

The session focused on the dynamic global competitiveness landscape in the face of rapid technological advancements, environmental
challenges, and evolving economic models. It explored strategies for countries to adopt and preserve their competitive edge,
highlighting the significance of innovation, sustainable practices, and comprehensive policies in fostering resilience and long-term
prosperity in an interconnected world.

Bin Touq said, “The UAE's participation in the World Economic Forum's annual meeting confirms its key role in fostering inclusive and
sustainable economic development at both regional and global levels. It also supports collaboration to find effective solutions to
address global economic challenges.”

“Thanks to the guidance of its wise leadership, the UAE has adopted several national initiatives and strategies that have enhanced its
competitive edge at regional and global levels. These efforts have also enhanced its ability to adapt to global changes and prepare for
the future by localising advanced technologies in the services offered to the society. This continued progress across various sectors
and the creation of a top-notch quality of life ecosystem in the UAE reflect the high level of security and stability experienced by citizens
and residents,” he added.

In this context, Bin Touq highlighted the progress achieved by the UAE in global competitiveness indicators, including top rankings in
223 global indicators in 2024. Furthermore, it climbed three positions from that of 2023 to rank the 7th globally in the World

Competitiveness Report 2024 published by the World Competitiveness Centre. Additionally, the UAE ranked first globally in 20
indicators of Future Possibilities Index (FPI), as highlighted in the Global Future Possibilities Index 2024.

He added, “The UAE has achieved remarkable and pioneering outcomes in global competitiveness in recent years, which sends a clear
message regarding the robustness of its national economy. By showcasing its resilience and adaptability to global shifts, the UAE has
exceeded the expectations set by international institutions and has demonstrated robust growth. Already home to over 1.1 million
companies and economic institutions, the UAE's business environment continues to attract companies, investors, and entrepreneurs
from across the world.”
Diversification of UAE's Economy

Bin Touq said, “The UAE remained committed to promoting sustainability and driving the transition towards a diversified and
knowledge-based economic model in the past phase. The country presents a unique model that has effectively boosted the contribution
of non-oil sectors to the economy to 75 per cent. National efforts to drive sustainable economic development are continuing, with the

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