UAE at WEF: Support innovation

davos — Innovation, entrepreneurship and future economies were the main theme of a panel session organised by the UAE during the 2018 World Economic Forum in Davos.

The sessions aimed to share experiences regarding successful innovation policies and actions that can help address some of the current global innovation challenges. The session gathered key global policy makers, Nobel Prize Laureates and CEOs, as well as key business leaders from the UAE.

The main host of the event, Sultan bin Saeed Al Mansouri, UAE Minister of Economy, highlighted the country’s imperative to diversify its economy through innovation.

“The UAE recognises the importance of innovation and has embarked on an ambitious vision to turn the country into one of the most innovative countries in the world by 2021,” he said. “This requires establishing a knowledge-based economy and targeting a five per cent GDP share of knowledge and innovation by 2021. It also calls for building on the unique partnerships we have forged with a number of OECD countries.”

Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Industry, and Omar bin Sultan Al Olama, UAE Minister of State for Artificial Intelligence, also highlighted the importance of investing in global R&D and leveraging artificial intelligence to accelerate disruptive innovation. — Wam