Sultan bin Saeed Al Mansouri, Minister of Economy, has underlined the importance of fostering an innovation-friendly environment combining financial incentives, social norms and knowhow to ensure smooth transition to an innovation-based economy in line with the UAE Vision 2021.
The minister made the remarks as he opened today the First Forum for Gulf Inventors, which is hosted by the University of Dubai for two days.
"The forum falls in line with the GCC States' growing interest in ensuring a real partnership between innovators, investors and private sector, with the ultimate objective of reviving production and accelerating economic growth," he added.
The minister highlighted the participation of a large number of innovators and officials in charge of the innovation portfolio from across the Gulf region in the event.
"The UAE has been a long way in wooing a large number of leading world companies operating in various economic domains to have a foothold in the country," he said, urging innovators to utilise the opportunities provided by the government to effect fruitful commercial partnerships with international and Gulf firms participating in the event.