UAE ranks first among GCC countries in economic diversification

UAE ranks first among GCC countries in economic diversification

UAE - Mubasher: The UAE was placed first among the GCC countries in terms of economic diversification and 16th globally for ease of doing business.

This announcement was made in a recent report published by the UBS Global Wealth Management's Chief Investment Office, according to a press release on Sunday.

The report evaluates the opportunities in the UAE among other emerging markets in the post coronavirus (COVID-19) era.

UBS referred in its report that the COVID-19 crisis has boosted localisation, offering opportunities for emerging markets, including the UAE.

The report mentioned that geographical proximity, few barriers to trade, a diversified economic structure in manufacturing, and a skilled workforce along with digitalisation can help economies to respond to the