Competitive Knowledge Economy
The global economy will witness significant economic changes in the coming years and the UAE Vision 2021 National Agenda aims for the UAE to be at its heart
As a result, it focuses on the UAE becoming the economic, touristic and commercial capital for more than two billion people by transitioning to a knowledge-based economy, promoting innovation and research and development, strengthening the regulatory framework for key sectors, and encouraging high value-adding sectors. These will improve the country’s business environment and increase its attractiveness to foreign investment.
The National Agenda also aims for the UAE 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 the UAE’s economic development through small and medium enterprises in the private sector. Furthermore, the Agenda strives to instill an entrepreneurial culture in schools and universities to foster generations endowed with leadership, creativity, responsibility and ambition. This will allow the UAE to be among the best in the world in ease of doing business, innovation, entrepreneurship and R&D indicators.
Moreover, the government aims not only to achieve leading positions in global reports, but to also provide a good life for its citizens. Therefore the National Agenda seeks to place the UAE among the top countries in the world in income per capita and ensure high levels of national participation in the private sector workforce.