The Dubai Department of Economic Development (DED) will announce the winners of the Dubai Economic Research Award (DERA) at an award ceremony to be held under the patronage of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, on February 25, 2008, at Grand Hyatt Dubai.
The DED launched DERA in 2004 to promote economic research that supports Dubai’s economic growth and to establish a research database in the UAE. The awards, which will be presented in three categories including Professionals, Faculty Members and Students, are open to UAE nationals and other researchers residing in the UAE at the time of submission of the research papers.
“The Dubai Economic Research Award plays an important role in achieving the objectives of the Dubai Strategic Plan announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai. The DERA team received research papers on various sectors: finance & banking, trade, tourism, real estate & construction, health, education and communications & IT,” said Khalid Al Kassim, Deputy Director General for Planning and Development at DED.
“General economic issues such as the investment climate in the UAE, the UAE competitiveness advantage, development of Small and Medium Enterprises (SMEs), re-engineering the Dubai government, and ways and means of diversifying UAE income sources were part of the subjects covered by the participating researchers,” added Al Kassim.
Saeed Rashid Al Suwaidi, Director of Economic Studies, DED and head of the DERA Steering Committee, said: “A large number of participants, representing different categories, applied for the award, and we hope the results of their researches will be used by decision makers in economic planning for the prosperous development of the UAE.”
Three prizes of AED 100,000, AED 80,000 and AED 60,000 will be awarded to the winners in the Professional Category. The winners in the Faculty members Category will receive three prizes of the same amount, while winners in the Students Category will receive three prizes of AED 30,000, AED 20,000 and AED 15, 000.
The award covers 10 economic sectors: tourism, oil & gas, health, education, communications & IT, finance & banking, industry, trade, real estate & construction, and transport & storage.
DED has joined hands with several leading companies and institutions to streamline the award process. The partners of the second cycle include Zayed University, which has been associated with DERA since the first cycle, Jebel Ali Free Zone Authority, Dubai Investments Company, Dubai Financial Market, Dubai World Trade Centre and Dubai Cable Company (DUCAB).
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.
