Abu Dhabi is set to host a major conference that will present opportunities to boost Arab co-operation in investments related to innovation and entrepreneurship.

 

The 17th Arab Investors and Businessmen Conference (AIBC), under the theme 'Investing in Entrepreneurship and Innovation,' will take place on November 16 and 17 at the Jumeirah at Etihad Towers Hotel.

 

The event will be organised jointly by the General Union of Chambers of Commerce, Industry and Agriculture for the Arab Countries (GUCCIAAC), the Arab League, UAE Ministry of Economy, UAE Ministry of Foreign Affairs, UAE Federation of Chambers of Commerce and Industry, Abu Dhabi Chamber of Commerce & Industry, Arab Investment and Credit Export Guarantee, in cooperation with Strategic Marketing & Exhibitions.

 

Sultan bin Saeed Al Mansoori, UAE Minister of Economy and chairman of the conference, said: "The UAE was selected as the venue for the Conference since it has recorded steady economic growth under strategic plans and an insightful vision to strengthening the knowledge-based economy.

 

"The UAE economy has many advantages, as it is a diversified economy driven by knowledge, competitiveness and efficiency, and supported by transparency and respect for the rights and commitment to excellence and innovation. 

 

"UAE has an advanced infrastructure, a strategic geographic location, and an integrated and modern banking system, supported by transparent economic policies with appropriate laws, regulations and mechanisms to protect investments."

 

"The UAE has put innovation on the top of its priorities in line with a comprehensive National Innovation Strategy that aims to make the UAE among the most innovative nations in the world within seven years. The strategy will stimulate innovation in seven sectors where innovation is key to excellence and its first phase includes 30 national initiatives," said Al Mansoori.

 

Al Mansoori emphasised that the current annual investment in innovation is to the tune of Dh14 billion ($3.8 billion) in the UAE, of which Dh7 billion goes to research and development.

 

The strategy is based on key components that include anchoring a stimulating environment for innovation. Al Mansoori said the UAE was open to sharing its model in innovation with other Arab countries to help incubate Arab enterprises.

 

Abdullah Al Saleh, undersecretary, UAE Ministry of Economy and president of the conference's Higher Committee, said: "This conference will bring together senior Arab officials from different economic sectors. In addition, we have confirmations from prominent business owners and investors from many Arab countries.

 

"The conference will highlight the requirements of economic and legislative climate and appropriate motivations for entrepreneurs to support entrepreneurship and innovation in Arab world so that they can address the challenges they face."

 

The conference will focus on displaying the importance of entrepreneurship and innovation and will work on enhancing the role of relevant Arab and international organisations to support and develop entrepreneurs and nurture an innovative mindset in the Arab world. 

 

It will also highlight the importance of innovative and pioneering projects that result in sustainable value-addition economically and socially.

 

During the two days, successful case studies will be showcased, including UAE Vision 2021 and its ambitious national agenda. 

 

The attendees will also get to know about projects and potential investment opportunities in different economic sectors. 

 

The conference will also discuss opportunities of joint cooperation between business owners and investors in the UAE with their counterparts in other Arab countries in the fields of enterpreneurship and innovation.

 

The organisers of the conference have invited leaders from Arab trade, agriculture, industry chambers, and specialised economic bodies, social and financial institutions, investment promoting agency in Arab countries, Arab entrepreneurs and investors, banks and financial institutions, investment companies, investment funds, financial and development banks, and Arab-Foreign Joint Chambers of Commerce. - TradeArabia News Service