Innovations key to UAE success

Incorporating innovation into all economic sectors could help to establish the UAE among the world's leading economies, a conference in the capital was told yesterday.

Abdullah Al Ahbabi, Assistant Undersecretary General of the Abu Dhabi Executive Council's General Secretariat, said innovation was the cornerstone of the emirate's Vision 2030 plan.

"Through these practice we can define a pathway for the UAE to become one of the leading economies of the world," he told the first Abu Dhabi Innovation Forum. "We at the executive council understand that economic transformation does not happen in a vacuum. Regulations and standards are needed to establish a new economic model."

Al Ahbabi said the council championed the building of a sustainable knowledge-based economy that would become one of the pillars of the Abu Dhabi vision and a key focus area of the Policy Agenda 2030.

Al Ahbabi said the establishment of a common framework that aligned all policies and plans, as well as fully engaging the private sector in its implementation, was at the heart of a long-term roadmap for the emirate's economic progress. "We hope to see the creation of more initiatives that will support the principle of modernisation through innovation and a knowledge-based economy," he said.

Ali Saeed Al Dhaheri, Chairman of the Board at Abu Dhabi University, told the conference that innovation was a key contributor to success and one of the core processes that every organisation should employ to sustain a competitive advantage. "The Abu Dhabi Innovation Forum serves as the perfect avenue to learn about some of the leading innovations achieved so they can be emulated in Abu Dhabi in the long run," he said.

The event was organised by Abu Dhabi University and the Khalifa Fund for Enterprise Development, which was established in 2007 with capital of Dh1 billion to meet the requirements of entrepreneurs.

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