The UAE remains best country in the Mena region to do business for yet another year as it introduced four new reforms in the last 12 months, World Bank said in its latest report.
World Bank praised the UAE, saying business regulatory reforms introduced by the country serve as inspiration.
Though the Emirates slipped five rankings globally to 16th positions in World Bank's Doing Business 2020 report, but UAE is still more business friendly than the countries like Finland, Germany, Canada, Ireland, Japan, France, Switzerland and a number of other developed and developing countries.
The UAE introduced four new reforms last year about starting a new business, deal with construction permits, protecting minority investors and cross-border trading to make it easier to do business in the country, joining 115 other countries who made it easier to do business there. In total, 190 economies were assessed in the report.
"Business regulatory reforms across the Gulf economies have been on a steady rise. These changes are motivated in part by the urgent need for economic...