Al Mansouri: UAE's future economy depends on innovation

dubai - UAE will employ innovation to create sustainable sectors that change economic equations, says minister

The UAE is constantly adopting initiatives that enable it to move towards a knowledge-based economy based on innovation in all its details, said Sultan bin Saeed Al Mansouri, UAE Minister of Economy.

Speaking at the third Future Mobility Conference on Tuesday, which brings together over 350 experts in the smart, electrical, hybrids and hydrogen vehicles industry, Al Mansouri highlighted the importance of innovation to create sustainable sectors.

"The reality and the economic future of the UAE, which is aimed at innovation and the employment of technology, began its first signs with the adoption two years ago of the policy of The President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, which included 100 national initiatives in the sectors of education, health, energy, transport, space and water, at an estimated investment of Dh300 billion," he said.

Al Mansouri noted that innovation in the vehicle industry, in particular, should be abreast of the latest developments.

"The UAE has a genuine desire to take an advanced position in the development of mechanisms and legislation to serve this trend. The UAE government is adopting innovation as it strives to move away from its reliance on oil for its resources, and move towards a knowledge-based and competitive economy," Al Mansouri said.

Abdulla Abdul Qader Al Maeeni, Director-General of the Emirates Authority for Standardisation and Metrology (Esma), noted that technology is employed in creating environmentally-friendly solutions, which has a direct impact on the lives of future generations.

"We are pleased to see the presentations of major manufacturing organisations, to hear the opinions of leading experts and industry leaders, to share knowledge and to learn about new types of smart products from photovoltaic cells batteries, and safety solutions, to vehicle communication mechanisms, between vehicle and emergency systems, and others," he said.

The third International Conference on Future Mobility takes place until November 8 and is hosted by Esma. The summit also features an exhibition of the latest electric, hybrid and self-driving vehicles from Tesla, Audi, Porsche, Volkswagen, Toyota, Lexus, Volvo, BMW, Cadillac, Kia, Renault and Mercedes-Benz.

- rohma@khaleejtimes.com