UAE has been ranked 23globally according to the World Bank’s annual Ease of Doing Business report. The 2014 report, compiled with the International Finance Corporation assessed the regulations of 189 economies, looking at how easy or difficult it is to do business in each of those countries.
The UAE’s position of 23 puts it above countries such as Saudi Arabia, Japan, France, Qatar, Spain and Italy and also makes UAE as the top economy in MENA region, followed by Saudi Arabia, Bahrain, and Oman.
The index was compiled based on the rankings of each country in ten different categories: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
Regionally, the UAE topped five of the categories, coming second in two others, and sixth, seventh and tenth in the remaining three.