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UAE rises to 29th place in UNIDO’s CIP Index, leads Arab countries

UAE rises to 29th place in UNIDO’s CIP Index, leads Arab countries
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UAE - Mubasher: The UAE came first among Arab countries and 29th worldwide in UNIDO’s Competitive Industrial Performance Index (CIP), advancing two places from 2022 ranking, according to a press release.

The index ranks 153 countries from across the globe and evaluates different industrial factors for each country in the context of global economy, such as technological abilities, innovation, productivity, and trade performance.

UAE Minister of Industry and Advanced Technology, Sultan bin Ahmed Al Jaber, said: “The country has made qualitative leaps in industrial development and has been able to strengthen its strategic position as it moves towards achieving its industrial goals through a set of competitive advantages that enhance its position as a global hub for manufacturing and innovation.

He added: “The UAE's announcement to reduce carbon emissions by 40% by 2030, in the third update of the second edition of the Nationally Determined Contributions report, underlines our leading model for building a sustainable future. The industrial sector is critical to achieving these sustainability goals.”

Managing Director of the Federal Competitiveness and Statistics Centre, Hanan Mansour Ahli, said: “The UNIDO ranking builds on significant strides made by the UAE across several global competitiveness reports. It reflects the government’s commitment to strengthening the UAE’s position as one of the most advanced nations, and recognizes the ministry’s efforts - as well as those of its strategic partners - to drive sustainable development.”

She added: “The UAE holds the top ranking in 152 competitiveness indices globally and is among the top 10 in 425 competitive indices. These rankings are based on the Federal Competitiveness and Statistics Centre’s analysis of 1,502 indices published by the United Nations and other international organizations.”

The UAE Ministry of Industry and Advanced Technology (MoIAT) has launched different initiatives to develop the industrial sector's abilities in order to be able to compete internationally. These initiatives include the Technology Transformation Program (TTP), which targets to increase the exporting rate of technological products to nearly AED 15 billion annually.

It is worth mentioning that the UAE’s seasonally adjusted Purchasing Managers' Index (PMI) in June 2023 reached 56.9, which came higher than 55.5 last May.