Occurs when imported goods are domestically sold at a lower market price, leading to unfair competition
A resource that possesses an economic value and is expected to offer particular benefits in the future. Assets are either owned by individuals, companies, or governments; and can be created or purchased to boost the company’s value or to benefit its operations.
The country’s ability to depend on various sources of income. For instance, the UAE’s ability to diversify its exports and investments, without depending on oil source solely
The process of setting up a business undertaking financial risks for the purpose of making a profit
Foreign Direct Investment
An investment made by a person or a company in a particular country into businesses situated in another country
Refers to the exchange of goods, services, and capital with other countries
The capacity to engage in economic transactions with other countries without any restrictions in exports or imports
Global Innovation Index
It is an index that ranks the performance and innovation level of many countries across the world, which is based on different indicators such as education, infrastructure, innovation and business sophistication
Gross Domestic Product
A measurement of a country’s economic activity which indicates the monetary value of all the final goods and services produced within a country in a particular period of time, usually one year.
Gross National Product
The total value of all goods and services produced by the residents of a particular country irrespective of the geographical location of the production.
The decrease in the value or purchasing power of a country’s currency
Refers to intangible assets produced by a human being’s intellectual ability such as creative ideas, works of art and literature, inventions, symbols, names, etc.
Refers to the actions implemented by the central bank of a particular country to control the supply of money and attain sustainability in its economic growth
Small and Medium Enterprises
The companies that are considered small and medium based on different factors such as the number of employees, assets, and annual revenues or sales. The criteria for classifying a business as small and medium varies per country
Companies that are just in the early stages of their business. Start-ups typically focus on a new product or service that is estimated to have a large market demand
Sustainable Economic Growth
The growth of economy that can be sustained in the long term without causing other major economic problems, especially in the next generations to come.
Refers to a legally protected symbol, word, phrase, or any sign that is identifiable to a specific product or company
The process of exporting goods and services of one country to another country, to get a number of imports, in return. Usually, this is based on the trade agreement made between two nations.
A type of financing provided to small businesses and startups that are believed to have the potential to expand and make profits in the long term.
A privilege granted to an inventor giving the exclusive right to create, utilise and sell their inventions for a particular period of time
The Ministry of Economy