Ministry of Economy Initiatives

7 initiatives to provide opportunities for innovators and spread a culture of innovation

With the aim of encouraging and celebrating innovative practices in the country, and promoting a culture of innovation at the institutional and individual levels, the Ministry of Economy launched 7 initiatives during the UAE Innovation Week that included a number of activities; the most prominent of which are tourism, research and development, intellectual property, entrepreneurship, information technology, and modern data-based economic activities that included:

A platform for innovative companies

A specialised platform to promote the companies and businesses that enhance innovation or research and development, and are affiliated with academic or research institutions and other relevant entities. The platform aims to highlight the efforts of business enterprises that allocate activities and investments to the areas of research and development and innovation initiatives, which is reflected in the innovative climate within the work environment of these companies, and the improvement of their productivity level and quality of services. It also aspires to encourage more companies to engage in these innovative efforts.

Unified tourist guide license

The unified tourist guide license enables UAE citizens to practice their tourist guide profession at the national level. It aims to develop competencies, prepare national leaders in the field of tourism, upgrade the profession of tourist guidance, strengthen the role of citizens in representing their country, and introduce the natural heritage, cultural and historical foundations of the UAE. Citizens who obtained a tourist guide license from one of the local authorities in the country were granted a unified license that enable them to practice their profession across all the emirates.

The second virtual international innovation forum

The Ministry of Economy, in cooperation with Dubai Customs, organised the second virtual international innovation forum on 25th February 2021, with the aim of adopting the best innovative strategies, spreading the culture of innovation, supporting the owners of innovative projects from inside and outside the country, and exchanging innovative ideas and practices. The forum provided a virtual platform that brought together creators, innovators, inventors and entrepreneurs from different countries, nationalities and ages; coming from the government and private sectors as well as the education sector, under one umbrella, to showcase their latest innovations and inventions in a new approach.

The Top 50 Innovative Companies Campaign

During the Innovation Week, the Ministry organised a promotional campaign for the 50 best innovative companies by sharing information about these firms and institutions on the Ministry's social media accounts, with the aim of highlighting their efforts, activities and innovations, and providing maximum exposure, in order to further encourage them to continue integrating innovation policies in their activities and business plans, thus enhancing their competitiveness and contribution to the advancement of the business environment.

The "Innovative Patent" initiative

The "Innovative Patent" initiative aims to stimulate innovation among inventors by reducing fees for innovative patent service (utility certificate) for particular categories such as academics and SME. It seeks to boost the role of inventors, technology and innovation pioneers, as well as small and medium enterprises involved in innovation projects to register utility certificates through reducing the certificate fees and expediting procedures, which will, in turn, increase the number of utility certificates and patents granted in the country.

Workshop on "New Horizons to Attract Investors and Talents Through the Golden Visa System"

The Ministry of Economy organised a workshop entitled "New Horizons to Attract Investors and Talents Through the Golden Visa System". The workshop discussed innovative strategies for partnership to greatly benefit investors and talents with regard to the Golden Visa system. It also identified crucial challenges that must be addressed in enhancing its outcomes and its impact on the growth and resilience of the national economy. It also tackled formulating innovative solutions that support the government's vision of designing an attractive and globally competitive investment environment.