The Department of Economic Development (DED) signed a Memorandum of Understanding (MoU) with British University in Dubai (BuiD) today, with the objective of developing and promoting economic and scientific research and development in Dubai and the UAE.
The MoU was signed by Mr. Khalid Al Kassim, Deputy Director General for Planning and Development, DED, and Mr. David J Lock, Registrar and Acting Chief Executive, BuiD, in the presence of senior officials from both organisations and members of the media, at a press conference held at the DED.
Under the terms of the MoU, the DED and BUiD wil co-operate to develop a framework for scientific research, in addition to identifying and prioritizing research programmes of interest to both parties. Co-operation opportunities with other UAE-based and international research groups will also be explored. The DED - BUiD MoU also enables the two institutions to develop incentives for international organisations to invest in research and development in the UAE.
“Information is the key ingredient of success and a major driver of growth in today’s knowledge-based economy and the ready availability of well researched scientific and economic information is crucial to the development of a nation,” said Mr. Khalid Al Kassim. “We hope to work closely with a leading international educational institution like British University in Dubai (BUiD) to advance the course of scientific study in Dubai. This MoU is the first step in this direction and we plan to build on our individual strengths to ensure that an appropriate atmosphere of scientific research is established in Dubai,” he added.
Commenting on the MoU, Mr. Lock said: “The signing of the Memorandum is a significant step for both BUiD and the Department of Economic Development. Dubai is developing in an exceptional way and the establishment of an achievable research agenda will take it further still to enable the Emirate to be seen as the ‘Knowledge Capital of the Gulf.”
“Research will enable organisations to become more efficient and improve the range and quality of their goods and services in addition to positioning Dubai as a world player in the new economy. We hope the establishment of Dubai as a premium research centre will also serve to enhance further the quality of higher education in the UAE,” he added.
“The economic growth of a city or country is irrevocably linked to the development of all its economic sectors, through dedicated research and development,” said Mr. Khalid Al Kassim. “This MoU will enable us to merge the academic strengths of the University with the realistic business objectives of the DED to create a climate of growth and innovation in Dubai, leading to job creation,” he added.
Implementation of the articles of the MoU is expected to begin with the establishment of a Research Initiative Group (RIG) comprising representatives from both DED and BUiD. The RIG will identify development initiatives and projects for Dubai according to local and regional priorities.
The RIG will also identify public and private sector organisations that could be potential investors in these developmental initiatives and will formulate implementation plans for selected initiatives.
About Department of Economic Development (DED):
The Department of Economic Development (DED) was established in March 1992, with the objective to organise, regulate and boost trade and industry within the Emirate of Dubai. The DED has moulded its mission of building a futuristic establishment, in accordance with the vision of the Government of Dubai and in the light of globalisation and the requirements of a digital economy. One of its key functions is to encourage local and foreign investments in commercial and industrial projects, and create the appropriate environment for investors.
The DED’s other functions comprise a wide range of regulatory activities including the preparation and maintenance of a commercial register and the supervision of all organisations. The DED is responsible for regulating the affairs of commercial agents and brokers and commercial advertising offices, in addition to overseeing and controlling the insurance industry in the Emirate. Examining the participation of the government in the private sector and representing the government in companies where it has a stake, also comes under the purview of the DED.
