The UAE ranked first regionally and 11th globally on the business regulation index, which is one of the indicators included in the report issued yesterday on economic freedom in the world in 2022 by the Fraser Institute, a well-known Canadian think tank specializing in public policy affairs.
The UAE jumped 11 places in its global ranking in an index compared to last year’s edition, noting that last year the country advanced 5 places in the classification compared to the edition of 2020, and this reflects a steady development in the prevailing business environment.
The UAE overtook Japan, which ranked 13th globally, the Kingdom (15th), and the United States of America (19th).
Singapore retained first place on the index, with a score of 9.3 points, and Estonia retained second place with 8.7 points; Finland also retained third place with 8.6 points.
In a related context, the UAE also ranked first regionally and 27 globally on the “Freedom of Trade at the International Level” index, another sub-indicator in the report issued yesterday. In a third sub-index, which is “Legal System and Property Rights”, the UAE ranked 28th globally.
The business regulation 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 every country in the world.
The index monitors the level of business regulation in each country in its high-end assessment of 10 points.