His Excellency Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, underscored the commitment of the Ministry of Economy to raise awareness about the fundamental concepts of a knowledge-based economy across the private and public sectors in line with the UAE vision 2021 and the federal strategy 2011-2013. He was addressing the Knowledge Economy Forum, organized by the Ministry of Economy, to strengthen awareness on knowledge economy.
The Forum was inaugurated by His Excellency Engineer Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy, at the Intercontinental Hotel in Abu Dhabi in the presence of number of representatives of federal agencies and the private sector in the UAE.
Mr Al Mansoori said that driving the evolution of a knowledge-led economy is the strategic objective of the government. “The Ministry of Economy is committed to attract international expertise to support economic development by focusing on the introduction of advanced technologies. These are aimed at boosting the efficiencies of various industrial and economic sectors. We are also focused on promoting a culture of innovation and research & development.”
Mr. Al-Shehhi said the Ministry of Economy organized the Forum to achieve three main objectives: the first is to shed light on the concept and the prospects of the knowledge economy; the second is to reaffirm the Ministry’s commitment to raise awareness about this concept, which would contribute to achieving the UAE Vision 2021 and the ministry's strategy in building a competitive knowledge-based economy led by qualified UAE nationals supported by creativity and knowledge; and the third is to promote dialogue and interaction with the Ministry’s partners based on the strategy assigned to them.
Mr. Al Shehhi said the Ministry of Economy is working to further strengthen small and medium enterprises (SMEs) as one of the most prominent contributors to the transition to knowledge-based economy. This will be led by best global practices and benefiting from the experiences of countries that succeeded in the development of SME models based on innovation and creativity, such as Singapore, Sweden, Denmark and South Korea.
He added that the Ministry has launched a number of projects and online services that support UAE’s efforts to build a knowledge-based economy. One key initiative is the "Made in UAE" portal, where manufacturers can display its products electronically with supporting photos, and product descriptions. The portal aims to promote UAE national products to a wider audience.
The Ministry has also showcased the Electronic System for Goods Monitoring which gained much attention from senior officials and entrepreneurs. This advanced project connects the Ports & Customs and the Ministry of Economy and centres of major retailers, enabling the Ministry to counter any attempts at potential monopoly practices by negotiating with suppliers or distribution outlets.
Another highlight was the issuance of Arabic Certificates of Origin online. This service offers flexible procedures for investors thus further enhancing the investment environment of the UAE. With this service, the merchant or the producer can apply online and request for a certificate of origin, and update or change the contents of the request for the certificate any time. This procedure is available in both English and Arabic languages.