Al Mansoori Chairs Seminar on Innovation and Future of World Economy at World Government Summit

Designer Sultan bin Saeed Al Mansoori, Minister of Economy chaired the seminar on innovation and the future of economy at the World Government Summit, a global platform devoted to forming the future of government worldwide, which opened last February 12 and ran till February 14, 2017 in Dubai. The seminar was gone to and participated by top-level group of priests, senior officials and professionals from numerous nations worldwide.

Significantly present throughout the UAE Minister's talk were Mark Mitchell, Minister for Land Information in New Zealnad; Sir Suma Chakrabarti, President of the European Bank for Reconstruction and Growth (EBRD); Hafez Ghanem, Vice President of the World Bank for the Middle East and North Africa; Bruno Lanvin is the Executive Director of INSEAD's European Competition Effort (IECI) and Kevin Lynch, Canadian expert in the field of innovation. Also existing were ambassadors from Finland, New Zealand, Canada, Armenia, Belarus and senior authorities and representatives of the UAE.

The seminar concentrated on showcasing the growing role of innovation fit the future of the economic climate in the world-- highlighting the most effective worldwide experiences and techniques here, and the initiatives made by the UAE Federal government and the federal governments of the participating countries at the seminar in order to establish an encouraging and stimulating setting made to enhance the contribution of innovation in economic development during its following phase.

In his speech, H.E Al Mansoori discussed the UAE's transfer to prioritize innovation and shared the key steps that the nation has carried out throughout the last duration to produce an encouraging and incentive-based environment, which consequently allows for the achievement of the wanted growth in the move to make use of innovation as a means to enhance the gains of economic growth and develop it to a comprehensive and lasting level for the future.

H.E emphasized that the distinctions in between the states to offer priority to innovation on the government agenda refers mainly to the leadership in each country, since the management owns the encouraging overview that is qualified on identifying the financial passions of the state. He further kept in mind that the significance of the support and the duty played by each nation's leadership, citing the UAE as an instance-- where the management has saved no initiative in taking on a national method for innovation and give support for all campaigns in order for all these efforts to efficiently contribute to moving in the direction of a competitive knowledge-based economic situation.

For his part, Minister Mark Mitchell, outlined the actions taken by his nation to boost innovation in the national economic situation and the relevance offered by his government for innovation with motivation plans and centers offered entrepreneurs.

Sir Suma Chakrabarti assessed the role played by the bank in the Middle East, Africa and Eastern region (MEA). He shared that the bank develops collaborations with nations depending on the future financial expectation in order to help the nations' economic situations in improving their competition via innovation and equaling modern innovation.

From his side, Dr. Lanvin offered the value of international indications in determining innovation and identifying the factors that add to raising innovation along with checking the elements represented as barriers. He explained that the function that governments can do through partnerships with the private sector is to attain a better development in this aspect.

Lastly, Canadian expert Kevin Lynch, provided his nation's experience in the innovation area, and discussed the culture of innovation, which need to be entrenched in the community and compatible with all the financial policies that ought to add to increasing the competitive economic climate by depending on sophisticated modern technology throughout a variety of industries, including climate modification, atmosphere and space programs.