Sheikh Mohammed Bin Rashid has announced new proposals in an attempt to further strength UAE rank as one of the best countries to do business.
The economic initiatives are in support of innovative start-ups and family-businesses, also by attracting new skilled worked to boost the industrial sector.
There is also a plan to constitute a UAE national research institute as UAE is the first Arab country in terms of R&D expenditure in order to increase their competitiveness among other countries.
The main points which are part of the initiatives developed by His Highness are the following:
- Accelerators to develop partnerships between family-business and start-ups, to consolidate their position in the market and to facilitating expansion into new ones.
- The new UAE Economic Research Institute, in collaboration with the Ministry of the Economy and several Universities.
- A centre which focus on training both citizens and residents on how to be entrepreneurs.
- A support platform for SME.
These major pillars are only preliminary points and should be covered more in details in the next weeks as we are excited to know more about the rapid transformation that Dubai is undergoing in this period.
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