Question

Q: Draw a UAE knowledge economy roadmap in line with vision 2021.

Note: answers should be in Details and in your own Words - the answers should be typed in a word version

Answer 1

Prime Minister HH Sheikh Mohammad Bin Rashid Al Maktoum, in the year 2010 has introduced the UAE vision 2021 at the closing of the cabinet meeting. this initiative mainly aims at making UAE among the best countries of the world by Golden Jubilee of the Union. the contour of the vision and plan consists of six pillars comprising the national priorities. which are

1. world-class health care

2. competitive knowledge economy

3. safe public and fair judiciary

4. cohesive society and preserved identity

5. first-rate education system, and

6. sustainable environment and infrastructure.

These six pillars are now considered as the national agenda for 2021. A set of a national indicator in the sector of education, economy, healthcare, police and security, justice society, housing, and infrastructure has been made by the government. these indicators are long term, and it measures performance in each national priorities.

UAE has its main focus on Competitive Knowledge Economy, it focuses on the economic, touristic and commercial capital for more than two billion people by the transitioning to a knowledge-based economy. it will further promote the innovation and research and development, strengthen the regulatory framework for key sectors, and will encourage high value-adding sectors. These will improve the country’s business environment and increase its attractiveness to foreign investment.

UAE also aims to be among the best in the world in entrepreneurship as this plays a key role in unlocking the potential of nationals and enables them to be a driving force of its economic development through small and medium enterprises (SMEs) in the private sector. the Agenda further strives to instill an entrepreneurial culture in schools and universities to foster the generations endowed with leadership, creativity, responsibility, and ambition. This will lead the country to be among the best in the world in ease of doing business, innovation, entrepreneurship and R&D indicators. According to the Ease of Doing Bussiness index report, it ranks at 11. It ranks 27 at Global Competitiveness Index. It is at 38 place in Global Innovation Index. Since according to the report, SMEs contribution to the non-oil GDP is of 49%. There is a lot more chance to enhance the productivity of these sectors. Hence by focussing and giving more priority to this sectors can lead the UAE to be among the best countries by 2021. and it will also fulfill its vision 2021.