Abdulrahman Al Ansari examines the findings of a new survey which shows that the United Arab Emirate (UAE – also known as the Emirates) is one of the best emerging markets in the world for doing business.
Emerging Markets Logistics Index
Logistics company Agility Logistics,and supply chain consultancy Transport Intelligence, recently released the seventh annual Agility Emerging Markets Logistics Index. This study assessed 45 of the world’s leading emerging nations on the basis of their size, business conditions, infrastructure and other issues that appeal to logistics providers and supply chain companies. The research also included a survey of over 1,100 global logistics and supply chain executives.
Overall the UAE, which includes major economies such as Abu Dhabi and Dubai, was placed second to China on the Index. It ranked ahead of India and Brazil, despite the fact that their economies are five and six times the size of the UAE’s respectively. Along with Oman and Qatar, the Emirates wasnamed one of the most business friendly countries on the Index. This categorywas based on a number of factors including risk, market access, regulation, urbanization, foreign inv
estment and wealth distribution.
The Index also ranked the countries based on “connectedness.” This refers to the quality of a country’s infrastructure, transport connections, and customs and border administration. The Emirates, which scored more than each of the other 45 nations surveyed in this category, benefits from its geographic location and business friendly environment. The nation is a strategic transit hub for lucrative east-west commerce.
Commenting on the results of the survey Elias Monem, the Middle East and Africa CEO for Agility Global Integrated Logistics was quoted by the Khaleej Times saying that “the UAE is a model for emerging and developed economies alike.” Continuing, Monem noted: “In areas critical to logistics providers and their customers, it has been exceptionally farsighted. Its infrastructure and regulatory framework are not merely best-in-class among emerging markets, they are among the finest found in any country, no matter how advanced.”
Model for emerging economies
The Index also found that logistics industry executives are preparing themselves for more volatility and uncertainty in emerging markets this year. Almost two thirds (61%) admitted they were unsure how the global economy would perform in 2016. They expressed fears that issues such as China’s economic performance, sliding global oil prices and the direction of the US economy could destabilise emerging markets over the next 12 months.
Yet despite volatile global economic circumstances, the UAE has developed favourable business conditions. Furthermore, 71% of the UAE’s residents expect the country’s business conditions to improve in the next six months, according to the Middle East and North Africa Consumer Confidence Index survey (September 2015) conducted by Bayt.com – the Middle East’s number one job site.
Clearly, this Index shows that the UAE is a model for other emerging developing economies, and is working hard to develop the business conditions necessary to thrive in an uncertain economic climate in 2016.
About Abdulrahman Al Ansari
Abdulrahman Al Ansari has more than 17 years of experience in the global financial services industry. He serves as the chairman of a number of reputable financial firms including AMA Investment Holding and Bid Capital Management Consultancy.
Abdulrahman’s professional portfolio encompasses a diverse range of sectors from commodities and natural resources to education, healthcare, oil and gas, and investment banking. He has earned a reputation as an innovator, who consistently develops new ideas and solutions to address the complex and demanding challenges which confront his clients every day. Over the years, Abdulrahman has cultivated a special interest in the continued economic and community development of the UAE.