For consecutive years, the UAE continued to achieve a full score of “10” on five of the sub-indicators on the General Index of Economic Freedom in the World in 2021, issued yesterday by the Fraser Institute, the Canadian think tank specialized in public policy affairs, including financial openness and the freedom to own bank accounts in currencies. There is no foreign exchange black market, no negative real interest rates, and no restrictions on issuing licenses.
The UAE ranked first regionally and 22 globally on the ease of doing business index, jumping 5 positions in its global ranking compared to last year.
The index is concerned with the ease of regulations, the smoothness of official procedures, and the various administrative aspects related to the organization of businesses, companies and commercial projects in all countries of the world.
The index monitors the level of business organization in the evaluation of its high-end 10 points. This year, the UAE scored 8.1 points, compared to 8.07 points, in last year’s edition.
The UAE surpassed the United States of America, which came in 24th place, South Korea (25), Belgium (31) and France (32). Singapore ranked first with 9.3 points, while Estonia came second with 8.7 points; Finland came third with 8.5 points.
The UAE also ranked first regionally and 24 globally in the sub-index of freedom of trade at the international level. It received 8.5 out of 10 points on the index. The UAE surpassed the United Kingdom, which ranked 30th globally, Norway (59) and the United States (64).
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