The UAE government has signed a number of agreements focused on boosting business accelerators, and blockchain applications at the World Economic Forum (WEF) in Davos, Switzerland. In partnership with the WEF, the UAE government launched the “Markets of Tomorrow” initiative, which aims to develop new business accelerators.
These accelerators will prepare the UAE’s national economy to embrace business activities focused on the new economy and enhance its readiness to enter tomorrow’s markets, utilising the latest technological means, the state-run news agency, Wam, reported.
The launch of the initiative is part of a comprehensive strategic partnership agreement between the UAE Ministry of Economy and the World Economic Forum’s New Economy and Society Center.
The agreement was signed by Abdulla bin Touq Al Marri, the UAE Minister of Economy, and Saadia Zahidi, the managing director of the World Economic Forum.
“Markets of Tomorrow” initiative
The initiative focuses on launching new accelerators in the UAE government and allocating them to support new business models in the UAE, strengthening the role of startups in the national economy, enabling them to prepare for future digital and technological work, which will be part of the post-oil economy.
It will also involve developing a new vision that will be the most important focus of market designer alliances, supporting cooperation and integration between the government and private sectors, and shaping future markets.
Al Marri said that the UAE is entering a new era of development and sustainable progress in accordance with a clear vision and integrated strategies, to provide tools and mechanisms of action to embrace business activities based on the concepts and applications of new economies, and attract startups from regional and international markets, especially those focused on innovation, knowledge and modern technology.
He added that the country is committed to encouraging businesses to move to the UAE, reflecting a new economic model developed based on pillars that entrench entrepreneurial thinking in business and provide solutions, learning opportunities, and incentives.
Developing blockchain applications
The UAE government also signed an agreement with the World Economic Forum to develop Fourth Industrial Revolution (4IR) applications.
The agreement was signed in the presence of Omar bin Sultan Al Olama, the UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and Jeremy Jurgens, the managing director and head of the WEF’s Centre for the Fourth Industrial Revolution.
Al Olama stressed that the strategic partnership between the UAE government and the World Economic Forum aims to serve communities by employing artificial intelligence, blockchain, and various technologies of the future.
The partnership also aims to enhance the sharing of innovative experiences and practices to provide supportive environments for the development of new ideas and projects that accelerate the process of scientific, technological, and cognitive progress.
“Averting a global food crisis”
The UAE Minister of Climate Change and Environment, Mariam Mohammed Saeed Al Mheiri, in a session titled “Averting a Global Food Crisis”, said that the UAE government is committed to supporting international efforts to enhance global food security and adopt healthy, and sustainable food systems.
The UAE’s efforts aim to achieve comprehensive development and combat hunger in the world, ensuring that the current and future needs of societies are met.
Almheiri said that the rapid changes taking place in the world require strengthening international cooperation and global partnerships and coordinating efforts to enhance food security and avoid a food crisis that affects all.
She added that the need of the hour was to adopt broader concepts and practices of sustainability, and sharing successful experiences and experiences between governments, states and the private sector.
Strengthening partnerships in scientific research
During her participation in a dialogue session titled “Safeguarding Global Scientific Collaboration”, Sarah bint Yousif Al Amiri, the UAE Minister of State for Public Education and Advanced Technology and Chairwoman of UAE Council of Scientists, emphasised the UAE government’s keenness to strengthen partnerships and constructive global cooperation in the field of scientific research.
She stressed that the UAE plays a pivotal role in this sector and displayed the achievements of the UAE Council of Scientists in providing scientific advice to UAE institutions and decision-making centers.
She pointed out the importance of constructive cooperation by sharing the results and outputs of scientific research, which contributes to the development of solutions to current and future challenges.
Al Amiri also spoke about how the UAE has shared data from the Emirates Mars Mission’s ‘Hope Probe’, with more than 200 scientific institutions and research centres around the world.
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