Page 47 - MOE ENGLISH PR REPORT - JANUARY 2025

Press Release

Minister of Economy reviews role of proactive initiatives in

enhancing UAE economy’s competitiveness at regional, global levels

DAVOS, 21st January, 2025 (WAM) - Abdullah bin Touq Al Marri, Minister of
Economy, participated in a session titled ‘Global Competitive Edge in an Ever-changing
World’ at the 55th World Economic Forum's annual meeting - Davos 2025 - taking place
from January 20 to 24 under the theme ‘Collaboration for the Intelligent Age.’

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