The latest ‘Doing Business’ rankings from the World Bank show a wide variance in performance among Gulf states. The best rating obviously goes to the UAE, while Kuwait comes worst off.

However, Kuwait actually did make some gains in the final rankings, as did the UAE and Saudi Arabia. But Bahrain and Oman managed to lose positions, and there was no change for Qatar.

The reviewed economies were rated on variables considered essential for enticing and keeping businesses. These deal with starting a business, issuing of construction permits, getting electricity, registering property, obtaining credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Some 190 economies are ranked in the latest report.

The UAE is ranked 21st and just behind Germany, but ahead of all Arab countries. In fact, this puts the UAE ahead of many EU countries, including Spain, Portugal and France.

This report particularly notes the UAE’s enhanced access to credit information, by providing consumer credit scores to banks and financial institutions. Also, there is an appreciation for making it easier to obtain electricity by eliminating interactions between consumers and the utility provider to obtain external works.

Bahrain dropped three spots to 63rd in the world and a distant second within the GCC. The adverse development partly relates to requiring employers bear a new health care-related contribution.

Oman slipped five notches down, the worst within the GCC, to 71st globally. It reflects the ability of other countries to better streamline business-friendly laws.

Otherwise the report is happy with the sultanate’s success in making trading easier through a single window for exports and imports.

Both Bahrain and Oman fare better than China and Indonesia, the two mega Asian economies. Singapore ranks second in the index after New Zealand.

Qatar’s ranking remains unchanged at 83rd. Nevertheless, the report is optimistic about developments like the opening of Hamad Port, and its what it could mean for exports and imports.

Saudi Arabia improved its ranking by two notches to 92nd. The World Bank notes the spread of online services in the kingdom for matters like land registration and payment of taxes. Another noteworthy development relates to strengthening the rights of minority shareholders in major decisions in enterprises.

Kuwait succeeded in advancing six notches to 96th worldwide, thereby appearing within the best 100 performers. The credit goes to improved online services, the introduction of a one-stop window and better efficiency in land registration services. Kuwait’s effort is appreciated for making use of technology with regards to easing exports and imports.

The law allows for the introduction of an electronic exchange of information among different agencies.

Notably, there are wide-ranging differences amongst GCC countries, with the UAE considerably ahead of all other GCC member-states.

Certainly, countries everywhere are exerting efforts to attract businesses via streamlining regulations to help address economic challenges like creating jobs for locals. Undoubtedly, in the age of globalisation, rivalry is global.

GCC economies have the means and capability of enhancing their rankings, thanks to availability of human resources and material assets.