UAE – Mubasher: Abu Dhabi is now ranked 12th worldwide according to the World Bank’s (WB) 2019 “Doing Business” report.

The oil-rich emirate has jumped 23 places on the global ranking for doing business, the Abu Dhabi Department of Economic Development  (ADDED) said in a statement.

The rating reflects the emirate’s major improvement compared to the 2016 rankings.

“The highly positive conclusions on the robust progress of Abu Dhabi’s economy are a tribute to the exemplary efforts made by government authorities to make our emirate more business-friendly and investor-friendly by making various processes faster, simpler and smarter,” Saif Mohamed Al Hajeri, chairman of ADDED, commented.

The WB’s evaluation is based on a criterion of six performance indicators are starting a business, issuing building permits, property registration, access to electricity, trading across borders, and enforcing contracts.

It is worth noting that the WB’s report conduct analysis on small and medium-sized businesses across 191 countries, measuring the impact of government regulations on their business performance.

It also investigates the performance of economies in creating a business-friendly environment under the 6 highlighted performance indicators.