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UAE ranked 1st among Arab Countries & 35th worldwide in Global Innovation Index 2017

June 2017

June 18, 2017 | 10:00 | Dubai

The UAE has improved its standing in the 2017 Global Innovation Index, topping all Arab countries and ranking 35th globally to improve six places from last year’s 41st position to cement its status as one of the world’s most innovative countries.

The results of the index were officially announced during a press conference held on Thursday, June 15, 2017 at the European headquarters of the United Nations (UN) in Geneva, Switzerland which was attended by H.E. Ambassador Obaid Salem Al Zaabi, the UAE’s permanent representative to the UN and other international organizations in Geneva. It affirmed the UAE’s significant progress in several pillars, the most prominent of which are Human Capital & Research as well as Creative Outputs

This year’s 10th Global Innovation Index measured the innovation-related performance of 127 countries and economies representing 92.5 percent of the total world population and the vast proportion of global GDP. It relied on detailed measures of innovation inputs and outputs – including 81 indicators providing comprehensive insights on the various areas of innovation, most notably institutions, human capital & research, infrastructure, market sophistication, business sophistication, knowledge & technology outputs, and creative outputs. The index provides a reliable measure for assessing and improving innovation and helping promote its role as a catalyst for growth and prosperity.

The Global Innovation Index is one of several key indices under the UAE National Agenda’s ‘Competitive Knowledge-based Economy’ pillar. It is overseen by the Ministry of Economy in cooperation with several entities, the most prominent of which are the Ministry of Education, the Federal Competitiveness and Statistics Authority, the Central Bank, the Ministry of Human Resources and Emiratisation, the Ministry of Finance, the Securities and Commodities Authority, and the Telecommunications Regulatory Authority (TRA), among others.

 

A new achievement that enhances the UAE’s development record

H.E. Engr. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said that the UAE’s significant progress in the Global Innovation Index is the latest of the country’s successive achievements in various fields of development and global performance indices, which he said contributes in enhancing the UAE’s outstanding position as a regional and global economic destination. He noted how the UAE has managed to maintain its lead among Middle Eastern and African countries in the field of innovation and has made significant progress in advancing its ranking among the fastest-growing innovation-driven countries.

H.E. explained that the UAE’s success is largely due to the directives of the wise leadership of H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, may God save and bless him, H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, May God protect him, and H.H. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to include innovation as a key pillar in all development policies and strategic plans adopted in various sectors.

The Minister added that the favorable result reflects the effectiveness of efforts and initiatives undertaken by various relevant entities to enhance the UAE’s ability to attract and retain outstanding talents and key investments to achieve the ambitious goal of transforming the UAE into a global innovation hub.

The UAE’s six-place improvement is considered one of the highest percentage score growth rates among all of the remaining countries in the Global Innovation Index with a growth of 10 per cent.

Source for article: Orient Planet PR & Marketing Communications on behalf of Ministry of Economy

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