Turns out, the UAE has the best roads in the world
The UAE ranks first in the world in terms of quality of roads, according to the Global Competitiveness Index (GCI) for 2014-2015 prepared by World Economic Forum (WEF).
Dr Abdullah bin Mohammed Belhaif Al Nuaimi, UAE's Minister of Public Works, noted that the federal ministry had constructed 800km of roads across the country and is working on a strategic initiative to complete the linking of all municipalities and residential areas with a high-quality federal road network, a WAMreport said.
The UAE advanced seven places in the overall competitiveness of its economy within just one year, becoming the 12th most competitive nation globally, according to the report.
The UAE is currently ahead of developed economies such as Denmark, Canada, France, South Korea and Taiwan, as well as developing countries such as Brazil, Russia, India and China. The nation also leads all the Middle East and North African (Mena) countries.
According to the methodology used by WEF in the its latest report on global competitiveness, extensive and efficient infrastructure is critical for ensuring the effective functioning of an economy, as it is an important factor in determining the location of economic activity and the kinds of activities or sectors that can develop within a country.
The Global Competitiveness Report 2014-2015 assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity.
- The reality of realty: inbound property investments in GCC 'far less' than outbound
- Dubai's hospitality sector is a sound investment
- Quiet and wise: How Oman is transforming itself into a major logistics hub
- Revealed: the top real estate tycoons in the ME
- Why did no one invest in the Suez Canal during the Economic Summit?