ABU DHABI // The President, Sheikh Khalifa, has announced details of a plan worth more than Dh300 billion to foster a knowledge economy and innovation, and prepare the UAE for a world after oil.
It will include fields such as robotics, solar power, developing intellectual property, stem cell research and bio-technology.
“The UAE is working towards establishing a solid future for coming generations away from the fluctuation of energy prices and markets,” said Sheikh Khalifa. “The UAE has set its course for a post-oil world through investing in the development of our people in the fields of science and advanced technology.
“Creating sustainable wealth for the coming generation will depend on science, knowledge, technology and innovation. The policy adopted today is a turning point in our journey to develop the UAE economically and socially.”
Sheikh Khalifa made the announcement as part of national Innovation Week celebrations.
The funds will mostly go towards research and development, and tripling the number of people working in the knowledge economy by 2021. More info