UAE’s Ministry of Economy, in cooperation with the National Research Council (CNR), has launched a new guide in both English and Arabic versions highlighting the Ministry's role in the implementation of the UAE National Innovation Strategy.

Launched by Sultan bin Saeed Al Mansoori, UAE Minister of Economy, the ‘The Innovative Guide for Companies in the UAE,’ was developed and released in line with the set goals and objectives of the UAE Vision 2021.

 The launch was also held as part of the Ministry's celebration of the UAE Innovation Month 2018. The guide is considered one of the Ministry's initiatives towards innovation that was presented to the National Committee for Science, Technology and Innovation (NCSTI) issued by the UAE Cabinet and was considered among the National initiatives as an implementation of the National Innovation Strategy.

“The UAE has positioned itself as an important centre for entrepreneurship and innovation--widely attributed to a conducive legislative investment environment based on best international standards. This has also resulted in the establishment of highly specialized institutions and an enhanced understanding of the important role of innovation, which has become part of the country's core economic policies and an essential part in the move to transform into a knowledge economy as led by distinguished Nationals” said Al Mansoori.

Al Mansoori pointed out that the Ministry of Economy is publishing this guide as part of its pivotal role in the efforts to support the private sector and contribute in the promotion of a culture of innovation at the level of the state and in cooperation with all strategic partners at the federal and local levels, particularly including the Departments of Economic Development and the Chambers of Commerce and Industry—all seamlessly working together to encourage companies in the UAE coming from all industry verticals to take advantage of this newly released guide in their efforts to enhance the competitiveness of the UAE economy.

He explained that the guide covers key topics like the scientific and practical aspects in terms of the definition of innovation and its types; the importance of innovation in the economies of developed countries; the success of companies and the role of social media in developing the innovation of companies and the achievement of quality focused successes.

The guide also includes extensive case studies of success stories, challenges and difficulties faced by companies on innovation and how to overcome them. He conveyed his appreciation and thanks to the Italian government, represented by the Ministry of Development for its cooperation in this endeavour, which falls in line with the framework of a Memorandum of Understanding (MoU) signed by the two ministries.

Humaid bin Mohammed bin Salem, secretary general of the Federation of UAE Chambers of Commerce and Industry, pointed out that the UAE’s private sector remains a strong strategic partner of the public sector in helping achieve the goals and objectives of UAE Vision 2021.

He said that the launch of the innovation guide represents a strong communication bridge between the Ministry of Economy and all the companies operating in the UAE—reflecting the strategic move towards innovation, which has become the core of the country's economic policies and the move to achieve a competitive knowledge-based economy. – TradeArabia News Service