Ministry urges companies to promote innovation

A new guide launched to support companies in innovation

The UAE has become an important global centre for entrepreneurship and innovation due to conducive legislative investment environment, Sultan Bin Saeed Al Mansouri, UAE Minister of Economy said while urging companies to adopt innovative strategies to boost growth and competitiveness.

“The UAE has positioned itself as an important centre for entrepreneurship and innovation, widely attributed to a conducive legislative investment environment based on best international standards,” Al Mansouri said adding that the measures resulted in the establishment of a highly specialised institutions and an enhanced understanding of the important role of innovation.

The minister made the remarks after launching a guide titled The Innovative Guide for Companies in the UAE.

The guide covers key topics like the scientific and practical aspects in terms of the definition of innovation and its types, the importance of innovation in the economies of developed countries and the success of companies, among others.

It also includes extensive case studies of success stories, challenges and difficulties.

In his speech at the launch, Humaid Bin Mohammad Bin Salem, Secretary General of the Federation of UAE Chambers of Commerce and Industry, pointed out that the UAE’s private sector remains a strong strategic partner of the public sector in helping achieve the goals and objectives of UAE Vision 2021.