Page 17 - Ministry of Economy

Page 17 - Ministry of Economy - December 2017

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12/26/2017 Ministry Of Economy Heads 6Th Meeting Of Global Innovation Index Executive Team | Abu Dhabi Press Releases, News, Events, Metro, Immi…

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Ministry Of Economy Heads 6Th Meeting Of Global Innovation Index
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Jobs in Abu Dhabi Abu Dhabi, December 14, 2017 The Executive Team of the Global Innovation Index operating under the UAE
Press Releases 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
Abu Dhabi Metro 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
Abu Dhabi Visa 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
Abu Dhabi Hotels & Tours 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
Abu Dhabi Hotels
trade was also discussed to complete related initiatives and plans. H.E. Alshamsi said that the Executive Team is
Abu Dhabi Tours currently more focused on the policy aspect than the monitoring and data collection process. This is to keep
Abu Dhabi City Tour abreast of international developments and to enhance the competitiveness of the country regionally and globally
in such a way that ensuresthe achievement of advanced levels on the Global Innovation Index to serve the
Desert Safari Tour
directions of the country. He added that there are many initiatives and steps that have been developed recently to
Ferrari World Park establish an incubating environment for innovation and creativity. He noted that these efforts mostly focus on
small- and medium-sized enterprises (SMEs) and newly established innovativecompanies. Among the most
notable are the Ministry of Economy’s efforts to collaborate with concerned entities that have members on the
Global Innovation Index Executive Team toadvance the ‘Young Innovative Companies’ initiative. The initiative
provides support for fast-tracking the establishment of new innovative businesses and enabling them to
commence work as soon as possible. It also encourages creative university students to transform their ideas into
marketable commercial projects by providing them with financing facilities and helping them with procedures for
registering patents, licenses, trademarks and other aspects involved in establishing and doing business.

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