UAE among top 5 most competitive economies.

The UAE government's efforts to make the country's economy among the world's most competitive economies is paying off year-on-year as it achieved the first rating in 20 sub-indices and the second ranking in nine positions, according to the IMD World Annual Competitiveness Report 2019 released on Tuesday.

The Switzerland-based think tank said in its annual report that the UAE jumped from the seventh place last year to the fifth position in 2019, thanks to improvements in government and business efficiency indices as well as technological and scientific infrastructure.

The UAE has recorded improvement in its competitiveness for the third consecutive year, rising from 15th place in 2016 to its current ranking this year. Among key indices, rating for government efficiency improved from fourth to second position, business efficiency from second to first...