OMAN best Arab nation for starting business

GENEVA: The Sultanate is the best Arab country for starting business, according to the Global Innovation Index (GII) 2017, co-authored by Cornell University, INSEAD and World Intellectual Property Organization.

The country has also been ranked third in the Arab world for rule of law, institutional pillars, political environment and economic environment.

It has been ranked third for political stability and absence of violence and regulatory environment, fourth in spending on education and human capital, and fifth for ease of paying taxes.

Oman has moved three notches higher in the last four years and ranked 77th on GII-2017.

It scored 31.83 points and was ranked eighth in the Arab world.

Switzerland leads rankings for the seventh consecutive year, with highincome economies taking 24 of the top 25 spots. China is an exception at 22.

In 2016, China became the firstever middle income economy in the top 25.

Each year, the GII surveys some 130 economies using dozens of metrics, from patent filings to education spending, providing decision-makers a high-level look at the innovative activity that drives economic and social growth.

In a new feature for GII, a special section looks at ‘invention hotspots’ around the globe that show the highest density of inventors listed in international patent applications.

GII provides detailed metrics about the innovation performance of 127 countries around the world.

Its 81 indicators explore a broad vision of innovation, including political environment, education, infrastructure and business sophistication.

This year’s report reviews the state of innovation in agriculture and food systems across sectors and geographies.