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Dubai Trade boosts UAE's ranking in World Bank's Doing Business Report |
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9/26/2008 2:13:17 PM |
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Dubai Trade, the innovative online service provider and business facilitator, has been recognized by the World Bank as a significant factor in the UAE's improved ranking in the revised 'Doing Business Report' for 2008 and the latest report for 2009.
The data, prepared with Dubai Trade's key stakeholders on the export and import procedures, timelines and costs, was described by the World Bank to be of "utmost quality, which is key to the success of the entire report."
The submitted report led the World Bank Doing Business team to modify UAE's ranking in the 'Trading Across Borders' category from 24 , in 2008, to 14 in 2009.
This has also boosted UAE's overall ranking in Ease of Doing Business for 2009 by 22 positions, from 68 in the 2008 report to 46 in 2009.
The Doing Business Report, undertaken annually by the World Bank, provides objective evaluations of business regulations and their enforcement across 181 economies and selected cities at the subnational and regional level.
Economies are ranked on their ease of doing business, from 1 - 181. A high ranking on the ease of doing business index means the regulatory environment is conducive to the operation of business. This index averages the country's percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic.
Mahmood Al Bastaki, Director of Dubai Trade stated: "As a nation, we have made impressive strides in our bid to attract the choicest of global businesses and to consistently and constantly upgrade our business environment. His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai has laid emphasis on raising UAE and Dubai's profile by way of the World Bank report and we are immensely proud to have played a role in boosting UAE's global rankings."
Dubai Trade's detailed and improved report findings were reflective of the progress made overall in the UAE including developments in Dubai World business units.
The study results, validated by the Trade Process Reengineering workforce comprising of members from Dubai Ports, Dubai Customs, Jafza and Dubai World's Excellence Centre were reported to the World Bank's Doing Business team.
"Our report helped us not only to review current trade procedures constructively but also plan solutions and simplified process systems to further improve UAE's standing in the next report. We will continue to work with our stakeholders and focus our efforts on enhancing the nation's business flow. Our goal is to fortify Dubai World's role as a global pioneer in the trade and logistics domain and establish UAE as one of the Top 10 economies in the world that facilitate cross border trade," added Mahmood Al Bastaki
Dubai Trade has developed its innovative concepts to the level of becoming a key player in Dubai's trading sector. Constant upgrading keeps its services at pace with the changes in technology. By covering the entire supply chain, Dubai Trade brings together into a single community a vast majority of companies that interact with Dubai's ports, customs and the free zone for the purpose of trade.
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Source: Menafn.com |
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