Al Mansouri: Building a knowledge-based economy is a top priority

UAE’s total value of trade in information technology products, covered by ITA, stood at Dh29.6 billion in 2013

Abu Dhabi: Building an economy based on knowledge, innovation and creativity, investment in science, technology and research is a top priority of the UAE, and is in line with the federal government’s ambitious Vision 2021 and its strategy for sustainable economic growth and competitiveness, said Sultan Bin Saeed Al Mansouri, Minister of Economy, on Saturday.

Al Mansouri, in a statement issued to state news agency WAM, said that knowledge is a key driver of production and marketing and that economic growth is proportional with the driver that is based on information and communications technology (ICT).

The minister highlighted the fast-paced growth of ICT on which modern-day business relies heavily and which drives economic growth and helps increase the gross national products of countries.

Al Mansouri also noted that in 2013 the UAE’s total value of trade in information technology products, covered by ITA, stood at Dh29.6 billion as follows: Dh19.8 billion in imports, around Dh393 million in exports and Dh9.6 billion in re-exports.

The UAE Cabinet, in November 2014 and in accordance with the directives of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, approved the designation of 2015 as the Year of Innovation.