'Qatar most competitive in MENA'.

DOHA Qatar has emerged as the most competitive economy in the Middle East and North Africa (MENA) region, according to the Global Competitiveness Report 2009-2010 released by the World Economic Forum (WEF). At 22nd, Qatar takes the lead in the Middle East and North Africa region, gaining four positions compared with last year's edition of the report. "The country, thanks to its abundant natural gas reserves, continues to weather the economic crisis well with an estimated 18 percent growth rate in 2009, the fastest growing economy in the Gulf Cooperation Council region," the report said. A year earlier, Qatar was placed at the 26th position but was still ahead of its peer, the United Arab Emirates, which stood at 31st position. However, in this year's ranking, the UAE too improved its position and was placed just behind Qatar at 23rd. Switzerland topped the overall ranking, followed by the United States, Singapore, Sweden, Denmark, Finland, Germany, Japan, Canada and the Netherlands. Besides Qatar and UAE, other countries in the Middle East featuring in the upper half of the rankings included Saudi Arabia (28), Bahrain (38), Kuwait (39) and Tunisia (40), with particular improvements noted in the Gulf States. In its assessment of Qatar, the WEF report said the positive economic performance was reflected in a number of indicators captured by the Global Competitiveness Index. Over the past year, the country moved up by six places from last year's already high base in the macroeconomic stability pillar, to 13th.This is a reflection of both absolute improvements-- notably in the budgetary surplus and public debt levels-- and the poorer macroeconomic performance of many other countries due to the financial crisis and concurrent countercyclical measures. "In terms of macroeconomic management, the country's priorities remain to reduce inflation, which was exacerbated by rising food and housing prices in 2008, and to expand credit. Qatar is moving in the right direction in many areas of competitiveness. The upgrading of the institutional framework continues (9th), and goods and labour markets are more efficient than in previous years, ranked 21st and 14th, respectively. In addition, the country has made great strides in harnessing the latest technologies, such as mobile telephony (2nd) and broadband (37th), and in opening up to foreign investment (it is ranked 13th on the restrictiveness of rules and regulations on FDI)," the report added. Moving forward, improving competitiveness will necessitate further measures to encourage students to pursue tertiary education, where enrollment rates remain low (93rd).

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