Page 451 - Ministry of Economy - December 2017

12/25/2017 Challenges may come, but UAE's ready for it | ZAWYA UAE Edition
In the key oil and gas sector of the economy, the most significant 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 find 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 fifth consecutive year. The country also maintained

its ranking to be among the world's most significant innovation-based economies for the
11th successive year.

https://www.zawya.com/uae/en/story/Challenges_may_come_but_UAEs_ready_for_it-SNG_104779608/ 5/5