The UAE has adopted a competitive approach to its development in order to promote sustainable growth and prosperity into the future. A major driver is the increasingly complex economic landscape of the 21st century, including globalization and international economic integration.
A competitive framework, articulated as a wide-ranging set of policies and actions, enables the UAE to build for the long term and embrace economic transformation by leveraging its competitive advantages. By creating a policy environment that allows human capital and natural resources to be highly productive, a competitive approach enables the economy to be strengthened in its higher value-added productivity sectors, resulting in higher levels of prosperity.
Within a competitive framework, the public and private sectors both play different but interrelated roles to create a productive economy. The government creates the enabling factors and conditions to foster private sector development. Private businesses in turn, are the engine to generate wealth through investment, employment, innovation and improving services, which lead to long-term economic growth.