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The UAE’s path to entrepreneurship and innovation

March 07, 2021

In the wake of the global financial crisis and with more emerging countries joining the global economy, there is an urgent need for new global models to achieve sustainable economic development, financial and economic stability and the well-being of society.

Since 1971, the United Arab Emirates has adopted a clear policy based on diversifying income and gradually moving away from oil, which constituted 90 percent of the national revenues in 1971, and that percentage has decreased as in 2013 it did not exceed the 30 percent threshold with the development of other sectors such as industry, services and tourism.

Then, the national agenda for the UAE Vision 2021 was launched, which one of its pillars is a competitive economy based on knowledge and innovation. The United Arab Emirates has invested in innovation by establishing an advanced infrastructure of universities, research centers, mega real estate projects, modern roads, means of communication and transportation, and it has been provided with government accelerators to accompany the digital transformation into a smart government. ِمم This along with a new generation of national leaders, armed with highest practical and international scientific qualifications, raising the United Arab Emirates to be ranked 25th in the Global Competitiveness Index and 34th in the Global Innovation Index.

The International Expo 2020 exhibition in Dubai will be a distinguished platform for devoting new models for the flow of financial and intellectual capabilities to enhance the spirit of entrepreneurship and innovation. It will also focus on exploring ways of interconnectedness and identifying potential partnerships that will ultimately result in the creation of a legacy of new innovations.

Finally, the success of the Mission of the Hope Probe is a moment of glory and pride for the entire Arab nation, raising the aspirations of future generations in the field of space exploration and opening the doors to scientific and knowledge achievements whose only limit is the sky.

The journey of the United Arab Emirates in the next fifty years is to lead the world to knowledge production with a vision of sustainable future development that contributes to making it number one as desired by the late Sheikh Zayed, The Founding Father of the United Arab Emirates, and who we remember from his legacy and words: “The desert has taught us to be patient for a long time until good grows, and we must be patient and continue the process of building in order to achieve good for our country. “