UAE Minister Highlights Key Initiatives Boosting Economic Competitiveness at Davos 2025

Davos, Switzerland – Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, shared insights on enhancing global competitiveness during a session titled “Global Competitive Edge in an Ever-Changing World” at the 55th annual World Economic Forum (WEF) in Davos. This year’s event, held from January 20 to 24, revolves around the theme “Collaboration for the Intelligent Age.”

UAE’s Delegation and Vision

Led by H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture, the UAE delegation included over 100 representatives from the government and private sectors.

During the session, global leaders explored strategies to tackle rapid technological advancements, environmental issues, and evolving economic trends. They emphasized the importance of innovation, sustainability, and adaptive policies to maintain competitiveness and ensure long-term prosperity.

UAE’s Proactive Role

Minister Bin Touq highlighted the UAE’s proactive approach to achieving regional and global economic prominence.
“The UAE continues to support sustainable economic development and collaborate on effective solutions for global challenges,” he said.

The UAE has implemented numerous national strategies under the leadership’s guidance, strengthening its ability to adapt to global changes. Initiatives like adopting advanced technologies and improving services have bolstered the nation’s security, stability, and quality of life for both citizens and residents.

Global Competitiveness Success

In 2024, the UAE excelled in global competitiveness, ranking first in 223 global indicators and securing 7th place in the World Competitiveness Report. Additionally, the country topped 20 indicators in the Future Possibilities Index (FPI), showcasing its resilience and innovative capacity.

“The UAE has proven its strength by attracting businesses, investors, and entrepreneurs from around the world,” Bin Touq added. The country is now home to over 1.1 million companies and institutions, cementing its reputation as a global business hub.

Economic Diversification and Sustainability

Bin Touq emphasized the UAE’s ongoing transition towards a knowledge-based, diversified economy. Non-oil sectors now contribute 75% of the national GDP, aligning with the country’s ‘We the UAE 2031’ vision. Key sectors driving this transformation include fintech, artificial intelligence (AI), advanced manufacturing, and food security.

The UAE is also enhancing its banking systems and global partnerships to support economic growth.

Innovation and Technology at the Core

The Minister stressed the importance of embracing research, science, and technology to create a sustainable, competitive economy. This approach includes:

• Encouraging investment in startups.
• Building strong public-private partnerships.
• Accelerating digital transformation.
• Promoting AI adoption across industries.

These efforts aim to position the UAE as a leader in innovation and economic adaptability amidst global challenges like geopolitical tensions and fluctuating oil prices.

UAE at Davos 2025

The UAE is actively participating in WEF sessions and meetings to strengthen its role as a global player. Key areas of focus include technology, energy, trade, and environmental sustainability, reinforcing its commitment to sustainable development.

The UAE’s vision and achievements at Davos 2025 highlight its determination to shape a prosperous future while maintaining a competitive edge on the global stage.