UAE’s Main Bases for the Competitiveness of the State

“The UAE’s achievements in non-oil sector have revealed that the UAE is moving into a new stage of development and progress based on innovation, which will accelerate economic growth and strengthen the country’s position in global indices,” said Reda Mosallam, Managing Partner of Truth Economic & Management Consultancy.

The current strategy of the State includes strengthening the role of innovation in the national economy, promoting and encouraging the culture of innovation and Researching & Developing in the private sector, providing innovative smart services to clients based on innovation, enhancing the attractiveness of the State to foreign investments, Community and promote their roles, and encourage and support the tourism sector at the local and global levels, as a cornerstone of the post-oil economy plan.

He pointed out that the indicators of foreign trade confirm openness to the world as a component of international economic relations, which contributed to the success of diversification policies, pointing out that the estimates of the gross domestic product for 2018 in real prices «base year 2010» amounted to about 1442.5 billion dirhams at the level of the state, Approximately 1418 billion dirhams at the end of 2017.

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