Wknd. KTBuzzon Inspired Living Indulge City Times KT Mobile KT ePaper KT Competitions Subscribe KT
Khaleej Times
Khaleej Times Google Plus Page Khaleej Times Facebook Page Khaleej Times Twitter Page Khaleej Times on Instagram
  Inspired Living
  Parent Talk
  Used Cars
Home > Business
Print this story
UAE ranks 5th in labour market efficiency

Issac John / 28 December 2010

DUBAI - The UAE is ranked 5th globally in terms of labour market efficiency, according to an assessment by World Economic Forum, or WEF.

The “Global Competitive Report of 2010”, which covers 139 countries, has attributed UAE’s advancement in this field to the efficiency and flexibility of labour market, employment of qualified nationals, enhancement of professional code of ethics, in addition to other indicators.

“The advanced positions attained by the UAE reflects the political leadership’s vision for providing a stable labour market based on the realisation of a balanced relationship between the rights and responsibilities of the bilateral production process i.e. workers and employers,” said Saqr bin Ghobash Saeed Ghobash, UAE Labour Minister.

The UAE is ranked 5th in the world for retaining national qualified manpower, 7th in flexibility of wage determination, 10th in professional code of ethics which stresses upon measurement of workforce productivity vis-à-vis working hours and 17th on flexibility mechanisms governing hiring and firing.

The report, issued annually by the WEF, assesses the competitiveness of each country on the basis of certain indicators organised into 12 pillars, each of which represents an area considered as an important determinant of competitiveness.

These pillars include: reports issued by international organisations, the infrastructure, macroeconomic environment, health and primary education, higher education and training, financial markets development, technological readiness, market size, goods market efficiency, business sophistication, innovation besides the labour market efficiency.

Ghobash said his ministry, in partnership with concerned parties, offers attractive labour environment which helps in recruitment and retaining of qualified manpower, realisation of long term sustainable development in conformity with the ‘UAE Vision 2021,’ which aims to accomplish a flexible, diversified and knowledge-based economy, which attracts highly qualified Emiratis and the best expatriates available in the market place.

Recently, the labour ministry announced a series of new procedures concerning the labour market and the organisation of its contractual relationships, which were passed within a comprehensive policy aimed at providing stability and flexibility of these relationships.

“The Wage Protection System (WPS), which has been in implementation since September, 2009 is considered as one of the major components of the aforementioned policies, as it protects workers rights of salary payment on time and without any undue deductions, and it also has positive implications on the employers,” said the WEF report.

The minister said the recent amendments of labour legislations concerning the labour market were inspired by the UAE leadership’s keen interest to provide more guarantees to both workers and employers, to help in job stability, and to increase productivity.

The Ministry of Labour shall continue its efforts to provide more legislations and amendments which aim at labor market reform, said Ghobash.

The guidelines for labour housing, approved by the UAE cabinet last year, is also seen as an important initiative aiming at providing protection for workers, through offering a suitable lodging as per international standards that guarantees health and occupational safety, as in the case of prohibiting work in the afternoon of the summer months, which in turn helped in providing more protection to workers and enhancement of productivity.


Print this story
comments powered by Disqus