The UAE has been ranked fifth globally in the legal framework efficiency index 2016, according to the annual global competitiveness report issued by International Institute for Management Development (IMD), Switzerland.
Sultan bin Saeed Al Badi Al Dhahiri, Minister of Justice, said, this advanced ranking reflects the important achievements scored by the UAE during 2016 in course of its comprehensive development that contributed to etching its position at the regional and international levels, especially in the legal and legislative areas.
The index assesses the role and efficiency of regulatory and legal proceedings in the state, as well as institutional competitiveness. The methodology of survey assesses views of individuals and institutions, and is also based on the statistical data on the economic and legal environment in the country.
The UAE minister said that the Ministry of Justice is keen to improve the legislative and legal environment in the country through the issuance of legislation that promotes the state competitiveness at the global level and keeps pace with the tremendous development on various economic, scientific and social levels. He added that these laws have a profound impact in facilitating the economic cycle in the country and contribute to the achievement of happiness and well-being of its citizens.
Al Dhahiri said that the ministry has contributed to the adoption of a number of key legislations during the past two years, which have a significant impact on the business environment and economic movement in general, activation of judicial procedures, process of litigation, and an increase in customer confidence in the judicial system, and contributed to attracting internal and external investments.