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side to address the problem: i) make things that enable others to decarbonize; ii) develop Green
Industrial Parks; iii) create and export decarbonization knowhow; and iv) Monetize carbon sinks and
carbon storage. This new strategy is still work in progress and it leverages the UAE’s comparative
advantages in this sphere, including the large renewable energy potential of the country, its low
cost of capital, investment-friendly environment, and high-quality trade infrastructure.

The government is keen to boost FDI inflows in R&D. What policy measures would you suggest
attracting foreign investment in the country?

The UAE considers a robust R&D ecosystem as the building block of economic development. The
Cabinet’s approval of the Research & Development Governance Policy in 2021, and the
establishment of the Emirates R&D Council headed by Sheikh Abdullah bin Zayed Al Nahyan,
Minister of Foreign Affairs and International Cooperation, contribute to strengthening the
performance and effectiveness of the UAE’s science and technology sector. The launch of specific
policies aimed at fostering an agile, yet robust, national ecosystem for R&D will unify its directions,
aligns efforts and integrate all that into a knowledge-based economy.

Such an ecosystem attracts and retains highly specialised expertise and top talents in a way that
enhances the nation’s position as a global hub for science, technology, and innovation. Besides, it
attracts investments into more advanced projects, and channels resources towards national
challenges.

The national strategy to attract and retain global talent was launched with the aim of attracting top
global talent to the country and enable them to capitalise on the incentives and facilities offered by
the UAE to contribute to the sector’s growth.

https://www.khaleejtimes.com/business-technology-review/economy-on-track-to-hit-dh3-trillion-
mark