The Most Competitive Economy in the Arab World Essay Example for Free

The Most Competitive Economy in the Arab World Essay In the online article entitled â€Å"World Economic Forum says UAE is Arab World’s Most Competitive Economy,† it was stated that the World Economic Forum has declared the United Arab Emirates to have the most competitive economy among the Arab countries (The Associated Press). This was from a survey done among the 13 Arab States, the results of which were presented to the Forum at a two-day meeting attended by the Arab business leaders held in Qatar (The Associated Press). The reason for the economy of the United Arab Emirates to be considered the most competitive is its â€Å"highly developed infrastructure, particularly air and seaports,† according to the economist co-author of the survey in the person of Margareta Drzeniek Hanouz (The Associated Press). In addition to this, the efficiency of the government of UAE in spending and regulation and the efficiency in the labor market had also become the important contributory factor to its success (The Associated Press). There is also a progress to be noted from the economies of other Arab countries because of its utilization of energy sources available to it (The Associated Press). Paired with this, there is government infrastructure support and enhancement that jives with the goals of the economy (The Associated Press). For once, it is very important that a country’s economy rises. It will impact on the people if planned well and will help alleviate the status of the nation. It is also important that there will be participation from the private sector towards the goals of the government and vice-versa. The government, private, and civil society partnership is indeed a key factor to the success of any aspect of nations. However, it is also important that, together with the rise and progress of the economy, the social welfare aspects of a nation are also enhanced and their needs addressed. The social welfare of the people is important because they are the ones who make up the nation and contributes to the economy, as well. Works Cited The Associated Press. World Economic Forum says UAE is Arab World’s Most Competitive Economy. April 10, 2007. The International Herald Tribune. September 15, 2007. http://www. iht. com/articles/ap/2007/04/10/business/ME-FIN-Arab-Economies. php.