Page 435 - Ministry of Economy - December 2017

12/25/2017 How we became a smart nation competitive knowledge economy - Khaleej Times

In 2010, the United Arab Emirates set out to become one of the best countries in the world and outlined its vision for 1 December 2017
the next 11 years. The UAE Vision 2021 states that:
NATIONAL DAY 2017 (/NATIONAL-
DAY-2017)
"Innovation, research, science and technology will form the pillars of a knowledge-based, highly productive and Top 9 places for UAE National
competitive economy, driven by entrepreneurs in a business-friendly environment where public and private sectors Day celebrations, fireworks
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form effective partnerships." places-for-uae-national-day-
celebrations-fireworks-)
30 November 2017
With the global economy witnessing significant economic changes, the UAE identified a "competitive knowledge
economy" as one of the six national priorities that will help achieve its ambitions. Through transitioning to a NATIONAL DAY 2017 (/NATIONAL-
knowledge-based economy, promoting innovation, and research and development, strengthening the regulatory DAY-2017)
framework for key sectors, and encouraging high value-adding sectors. The UAE sought to improve the country's Not flying out of UAE? 15 things
to do for the long weekend
business environment and increase its attractiveness to foreign investment. (/national-day-2017//not-flying-
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the-long-weekend-)
As part of the UAE Vision 2021, 12 National key performance indicators were also identified to benchmark the 29 November 2017
country's progress. Among these were innovation, competitiveness, and ease of doing business. These are factors
that would set the UAE apart and position it as a regional and global economic hub, a transition from the country's TELECOM (/BUSINESS/TELECOM)
previous dependence on oil. Etisalat to charge if you don't
pay your bills on time? TRA
clarifies
Over the years, the UAE has taken significant strides towards its vision, achieved through close collaboration
between the public and private sectors, as well as a combination of interrelated factors contributing to this
advancement, at the centre of which sit innovation and technology.
38%
At the recent Future Mobility Summit which took place in Dubai earlier in November, His Excellency Sultan bin Saeed
Al Mansouri, UAE Minister of Economy, emphasised the role that innovation has to play in creating sustainable
Notification sectors, stating that: "The reality and the economic future of the UAE which is aimed at innovation and the
employment of technology, began its first signs with the adoption two years ago of the policy of The President, HH
Sheikh Khalifa bin Zayed Al Nahyan, which included 100 national initiatives in the sectors of education, health,
energy, transport, space and water, at an estimated investment of Dh300 billion."

From the Science, Technology & Innovation Policy to the National Innovation Agenda, innovation and technology
have become the cornerstones of the new UAE economy.

As such, the extent of integration of these factors has been outstanding, spanning a broad range of industries and
sectors, of which the National Strategy for Innovation identified renewable energy, transport, education, health,
technology, water and space. More importantly, the results have been tremendous. In 2017, World Economic Forum's
Global Competitiveness Report ranked the UAE first in the world in terms of Government Procurement of Advanced
Technology Products.

Owing to a long-term vision, Dubai today ranks as one of the most innovative and progressive cities in the world. This
was reflected in the latest 'Ease of Doing Business' index by the World Bank, in which the UAE ranked significantly
higher than in past years. The IMD Global Competitiveness Index similarly ranked the UAE among the world's top 10
most competitive economies for the first time, and the country assumed the 13th position in Business Sophistication
in the World Economic Forum's Global Competitiveness Report.

Let us consider how both the government and the private sector have adopted smart technology to facilitate
transactions and make the country a happier, more efficient place. For example, Smart Dubai was established to
empower, deliver and promote an efficient, seamless, safe and impactful city experience for residents and visitors.

E-services have played a significant role in providing businesses with easy and quick solutions tailored to their
individual needs. The UAE has come a long way in achieving its vision of a competitive knowledge economy. I firmly
believe that as a nation, the UAE can reach new heights as we have the needed values from which to build,
supporting the achievement of becoming a leading, sustainable world economy. I look forward to the upcoming years

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