Dubai Internet City is cited as a key driver to the UAE’s economic transformation, positioning the country as leaders in the MENA region in the global e-readiness rankings, according to a new report from the Economist Intelligence Unit (EIU).

Dubai’s attempt to build capabilities as a world-class enabler of digital commerce has been achieved primarily through the efforts of TECOM Investments in creating Dubai Internet City, added the EIU report.

Malek Sultan Al Malek, Executive Director, Dubai Internet City, said: “These results validate the high quality of information and communications technology (ICT) infrastructure offered at the IT cluster.

“By awarding top honours to the UAE, the report – regarded as one of the world’s most comprehensive and authoritative international assessments - establishes the country as the preferred location for companies looking to invest in the region.”

Naming Dubai Internet City as a viable model for ’innovation parks [that are] efficient places to do business’, the report highlighted ‘convenience’ as a key factor contributing to its success in attracting the world’s largest technology firms.

Al Malek added: “DIC has built a framework that distinguishes itself from typical technology parks around the world largely due to the priority the UAE government places on creating a holistic ‘lifestyle ecosystem’ in the country. Offering a business-friendly environment that extends 100 per cent ownership and full tax exemption, Dubai Internet City provides an enabling environment for knowledge-based companies to seamlessly extend their footprint across the region.”

The UAE scored highly (7.64 points out of 10) with respect to its readiness to promote and facilitate business, and was awarded 6.20 points for its balanced government policy and vision to manage and allocate resources needed for network operations. A number of key categories were considered to determine the e-readiness of each participating country, including connectivity and technology infrastructure; business environment; social and cultural environment, and consumer and business adoption.

The UAE led all other countries in the Middle East and North Africa (MENA) region including (listed according to ranking) Turkey, Saudi Arabia, Jordan, Egypt, Algeria and Iran.

Elements of the e-readiness report suggest, however, that the UAE needs to raise the education levels of people for further enhancing internet familiarity and driving digital commerce.

“Education in online processes for digital commerce is something that DIC is continuously committed to promoting. We hope that by working with the government, educational institutions and business partners, we will increase internet-literacy rates across the country,” added Al Malek.

Complementing the region’s increasing focus on creating knowledge-based economies, Dubai Internet City supports high-tech entrepreneurship and innovation, hosting most of the Fortune 500 companies in addition to more than 1,200 specialised industry leaders from diverse segments of the information and communication technology sector.