With its business-friendly conditions, and modern and world-class logistics and transportation infrastructure, Oman has ranked 14th globally in Agility Emerging Markets Logistics Index 2021, a broad gauge of competitiveness based on logistics strength and business fundamentals.
The sultanate ranked fourth overall as the most competitive emerging market in the GCC, according to the annual Agility Emerging Markets Logistics Index. In addition, Oman ranked eighth globally in the area of business fundamentals and third in GCC for international logistics.
The emerging markets logistics index, now in its 12th year, ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers and distributors. China, India and Indonesia topped the index, while three Gulf countries made to the top 10. The UAE ranked at fourth position globally, Saudi Arabia at sixth, Qatar at ninth, Bahrain came at 15th position and Kuwait achieved 19th rank in this year’s Agility Emerging Markets Logistics Index.
In the area of business fundamentals, Gulf countries dominated the top spots. The UAE was No 1, followed by Saudi Arabia (3), Qatar (4), Bahrain (7), Oman (8) and Kuwait (11). China, India and Indonesia ranked highest for domestic logistics; China, India and Mexico are at the top for international logistics.
Despite an economic downturn and uncertainty caused by the COVID-19 pandemic, the report said the Gulf region offers the best and most stable business climates in the world of emerging markets.
“Gulf countries are pushing hard to diversify and integrate their economies by developing world-class infrastructure and creating fair, transparent conditions for business,” said Elias Monem, CEO of Agility Global Integrated Logistics for the Middle East and Africa. “Good infrastructure and stable business conditions are areas of huge competitive advantage for the Gulf region. They will be key to recovering from the economic downturn brought on by the pandemic.”
As per the Agility Emerging Markets Logistics Index report, the regional Gulf economy could get a boost as a result of the diplomatic breakthrough that ended Saudi Arabia’s three-year economic blockade of neighbouring Qatar in late 2020. That could lead to tighter integration in a region where cross-border trade, trucking and e-commerce are growing dramatically, it said.
Along with the index, Agility surveyed more than 1,200 supply chain professionals for their views on the disruption caused by the COVID-19 pandemic.
Of the executives surveyed, 44.7 per cent see a Middle East/North Africa recovery in 2021; 38.9 per cent said a recovery for the region won’t take place until 2022-2024. A majority expects Asia, North America and Europe to rebound this year.
Transport Intelligence (Ti), a leading analysis and research firm for the logistics industry, compiled the Agility Emerging Markets Logistics Index.
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