Through it he assessed the best economies for their business success. Britains distinction and its prominence is due to its strong workforce, innovation and the absence of bureaucracy. Forbes rated 161 countries according to 15 different sectors, including: infrastructure, property rights, and investor protection. Here are the most prominent countries in the Middle East and North Africa that have come to the list:
The UAE economy is considered one of the open economies with high per capita income and a trade surplus Huge yearly. Economic diversification plans have reduced the contribution of oil and gas to GDP to 30%. And since the discovery of oil in the United Arab Emirates, about
For 60 years, the country has transformed from small desert emirates into modern countries whose inhabitants enjoy a high standard of living. The government increased its spending on job creation, infrastructure expansion, and utility expansion to increase contributions private sector
Oman is heavily dependent on oil and natural gas, accounting for between 68% to 85% of revenues The government depends on commodity price fluctuations. In January 2018, Oman possessed enough foreign assets to support its fixed exchange rate. Oman is using improved oil recovery methods to increase production, but at the same time it is seeking to implement a plan Development focusing on diversity, industrialization and privatization. The country's strategy to diversify sources of income includes several sectors: tourism, shopping, logistics, mining, manufacturing and aquaculture.
Saudi Arabias economy is dependent on oil, and its powerful government controls the main economic activities in the country. Saudi Arabia has more than 16% of the proven oil reserves in the world. It is the largest oil exporter in the world and plays a major role in the Organization of Petroleum Exporting Countries. Saudi Arabia encourages private sector growth with the aim of diversifying its economy, employing more Saudis and engaging young people. Throughout history, Saudi Arabia has focused on diversifying its efforts in power generation, telecommunications, and natural gas exploration and sectors Petrochemical. Recently, the government has adopted a number of domestic reforms, such as the new visa issuance system and increased tourism infrastructure .
Oil and gas play a major role in the Bahraini economy. Despite the government's efforts to diversify the sources of its economy, oil still contributes 85% of Bahrain's revenues. Among the major economic activities in the country is aluminum production - the second largest export of Bahrain after oil and gas - and financing And construction. Since 2015, the country has lifted subsidies on meat, diesel, kerosene, and gasoline, and has started to raise prices for electricity slices Bahrain implemented a free trade agreement with the United States in August 2006, the first trade agreement Free between a Gulf country and the United States of America.
Morocco took advantage of its proximity to Europe and its relatively low labor costs to transform its economy into a diversified, open, and oriented economy. logistic. One of the most powerful factors that improve Morocco's competitiveness is industrial development strategies and infrastructure improvements. This is evident in the new port and free trade area near Tangier. At the end of 2014, the country lifted subsidies on gasoline, diesel and fuel oil, which greatly reduced Country burdens in relation to budget and current account. Morocco is also seeking to increase its capacity to generate renewable energy and aims to use renewable energy in production 50% of the electricity you need by 2030.
Source: Forbes Middle East
