Under the patronage of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance and Industry, the Department of Economic Development and Zayed University honoured six winners of the Dubai Economic Research Award (DERA) at a glittering event held at Madinat Jumeirah, Dubai. The keynote speech at the award ceremony was given by H.E. Sheikh Nahayan bin Mubarak Al Nahayan, UAE Minister of Higher Education and Scientific Research, and President of Zayed University (ZU).
Speaking at the event, H E Sheikh Nahayan said: "The partnership of academia, business and government on display here reflects the national spirit for cooperation and strategic thinking responsible for our peace and prosperity. Research and the advancement of knowledge are central to the mission of Zayed University because it helps to build our nation’s intellectual capabilities, and it contributes to a competitive and innovative business and economic environment. Research enhances our understanding of societal issues and needs.
“We, at Zayed University, are committed to nurturing an environment of excellence, innovation and public service, not only for the benefit of our country, but also for building a high international reputation for our University,” he added.
The Dubai Department of Economic Department (DED) has launched the DERA in cooperation with Zayed University in a step to promote economic research that supports economic development in the country, in addition to setting reliable and up to date economic research data base.
The top prize of AED 50,000 was awarded to Dr. Hugo Toledo, of the American University of Sharjah, for his research entitled ‘An exposition of the problems and prospects of Emiratisation.’ Dr. Masood Abdulla Badri, of the UAE University, won the second prize worth AED20, 000 for his paper ‘The business value of Dubai e-Government: A path analytic model and measurement’ while the third prize of AED10, 000 was won by Dr. Kamal Amin, of Dubai University College, for his paper ‘FDI Inflows to the UAE: Determinants & policy issues’. In all, three prizes of AED 50,000, AED 20,000 and AED 10,000 were awarded to winners in the General Category which included professional and academic categories.
Candidates in the student category were also awarded three prizes of AED 10, 000, AED 6, 000 and AED 4, 000. Iman Al Sayegh & Hana Alawi, both of Zayed University, won the first prize for their “An Investigation into the Inflation Rate in the UAE’ research, while Laila Albadi, Zainab Darwish & Fahima Kamali, of Zayed University received the second prize worth AED 6,000 for their paper entitled: “Is Margin Trading Appropriate for UAE Stock Market?’. The third prize of AED 4, 000 was awarded to Luigge Romanillo, Lydia Wright & Enjy Kiwan of the American University in Dubai for their paper ‘Ownership amid Shifting Dunes: Property Rights and the Future of Dubai's Real Estate Boom.’
Earlier, Mr. Mohamed Ali Alabbar, Director General, DED, welcomed the distinguished guests at the ceremony. He said: “The economic growth of any nation can only be sustained if it is supported by informed policies coordinated between the public and private sectors. Such policies can only be developed when decision makers have access to a dynamic and multi-disciplinary research-enabled database.”
He added that Dubai, as a result of the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister, and Ruler of Dubai, has achieved internationally commended successful economic growth rates.
“Inspired by our wise rulers, we have set high ambitions and targets to make the UAE an integral and important part of the regional and global economy. On behalf of the DED, I would like to congratulate those who won the awards this year, and express my appreciation to all those who have participated in the first ever Dubai Economic Research Award,” he added.
DERA was instituted by the DED in coordination with ZU in December, 2004, to promote scientific research within the UAE. The award is offered for original research related to economic development in the UAE. All researchers and students resident in the UAE at the time of submission, including nationals and expatriates are eligible for the award.
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.
