Very wisely, the leaders of the United Arab Emirates are investing heavily in innovation and knowledge-based strategies. The bold budget move in this direction last month was yet another sign of the region's steadfast determination to build knowledge and diversify the economy.
The UAE's five year federal budget includes big line items for education, social development and health. Moreover, the integration of several national industrial companies and governmental entities is a smart move as they consolidate resources and continue to leverage technology to be competitive in the global market. Implementation will be key and the leaders will likely want innovative, trusted partners to help.
“The investments will help increase the share of the industrial sector in the country’s GDP to 25 per cent, up from the current 16 per cent, and ensuring the industrial sector will become the driving force in the country’s economic growth," Sultan Bin Saeed Al Mansouri, Minister of Economy, said in a statement to the Emirates News Agency (WAM).
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