Page 445 - Ministry of Economy - December 2017

12/25/2017 Challenges may come, but UAE's ready for it | MENAFN.COM
In the key oil and gas sector of the economy, the most
signi cant development of the year was the announcement

that the Abu Dhabi National Oil Company (Adnoc), was to list a
minority stake in its subsidiary, Adnoc Distribution, on the Abu

Dhabi Securities Exchange.

Announcing the step at the 2017 Abu Dhabi

International Petroleum Exhibition and

Conference in early November, Dr Sultan bin

Ahmad Sultan Al Jaber, UAE Minister of State

and CEO of Adnoc Group, said that: "the

planned IPO, to be listed on the Abu Dhabi

Securities Exchange, will offer both UAE and

international investors an unprecedented

opportunity to invest alongside Adnoc in one of

the region's leading retail brands."

At an international level, the UAE has continued to perform
well against its competitors. In the latest World
Competitiveness Ranking of 63 countries by the IMD World

Competitiveness Centre, issued in May 2017, the UAE rose to
10th place, making it the only Arab country to nd a place

among the super league of the global top nations.

In the most recent edition of the Global

Competitiveness Report 2017-18, issued by the

World Economic Forum, the UAE topped the

Arab world and ranked 17th globally in the

global competitiveness ranking. The report also

ranked the UAE among the top 20 competitive

economies globally for the fth consecutive

year. The country also maintained its ranking to

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