Dubai ranks 16th for in­no­va­tive cities

The Pak Banker - - BUSINESS -

DUBAI: Dubai is ranked among the top twenty most in­no­va­tive cities, ac­cord­ing to the Dubai In­no­va­tion In­dex Re­port, re­cently re­leased by the Dubai Cham­ber of Com­merce & In­dus­try. In the re­port, Lon­don has emerged as the most in­no­va­tive city, fol­lowed by Hong Kong and Sin­ga­pore re­spec­tively. Dubai ranks 16th across 28 global cities, ahead of cities such as Madrid, Mi­lan, Sao Paulo, Mum­bai, Shang­hai and Bei­jing. The re­port high­lights the re­sults of the Dubai In­no­va­tion In­dex (DII) which was launched by the Dubai Cham­ber in col­lab­o­ra­tion with PwC in 2015, to sup­port UAE's vi­sion for in­no­va­tion and to pro­mote Dubai's quest to­wards be­ing the smartest city in the world by 2021.

The In­dex has been de­signed to com­pare Dubai with 28 global cities on macroe­co­nomic mea­sures of in­no­va­tion and to an­a­lyse in­no­va­tion per­for­mance of Dubai's pri­vate sec­tor, in­clud­ing at the firm level. Through the In­dex, the Cham­ber wants to cre­ate aware­ness and in­crease the par­tic­i­pa­tion of the pri­vate sec­tor in the to­tal in­no­va­tion ef­forts of the city of Dubai, and pro­vide a bench­mark to mea­sure in­no­va­tion. Ha­mad Buamim, pres­i­dent and CEO at the Dubai Cham­ber re­marked that the cham­ber is cog­nizant of the im­por­tance of in­no­va­tion, now more than ever, for an econ­omy to grow and sus­tain in this dy­namic global sce­nario. "That is why we de­cided to launch the In­dex and have been very open and trans­par­ent about the pa­ram­e­ters we have used to set a bench­mark for mea­sur­ing in­no­va­tion.

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