Page 25 - Ministry of Economy - December 2017

12/26/2017 Ministry of Economy heads 6th meeting of Global Innovation Index Executive team | MENAFN.COM

Ministry of Economy heads 6th meeting

of Global Innovation Index Executive

team

Date Tweet on Twitter
12/16/2017 1:34:18 PM

(MENAFN Editorial) The Executive Team of the Global Innovation Index operating under the

UAE National Agenda has held its sixth meeting at the Ministry of Economy's Dubai HQ. The
session was led by H.E. Abdullah Sultan Al Fan Al Shams, head of the team, in the presence of

elite representatives from federal and local entities that are members of the team.

The group discussed the latest updates to the Global Innovation Index and available
development opportunities. They also reviewed the work methodology for the next phase which

will focus on formulating policies supporting an environment of innovation and the sustainability
of the country's competitiveness in this regard to help advance the national target of becoming

among the top 10 countries in the world by 2021.

The meeting emphasized the need to speed up several processes, namely those related to the

collection of expenditure data on education and scientific research in academic institutions and
the private sector as well as data on foreign direct investments (FDI) within the country. The

growth of the UAE's imports and exports due to advanced technology and the contribution of
technology to the state's total foreign trade was also discussed to complete related initiatives
and plans.

H.E. Alshamsi said that the Executive Team is currently more focused on the policy aspect than
the monitoring and data collection process. This is to keep abreast of international

developments and to enhance the competitiveness of the country regionally and globally in such
a way that ensures the achievement of advanced levels on the Global Innovation Index to serve
the directions of the country.

He added that there are many initiatives and steps that have been developed recently to
establish an incubating environment for innovation and creativity. He noted that these efforts

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