Ministry of Economy discusses best practices for business incubators based on leadership and innovation

Dr. Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Board of Directors of Small and Medium-sized Enterprises, SMEs, has confirmed the UAE's keenness to be briefed on the best practices of business based on leadership, innovation and knowledge in the world, to select the most appropriate tools and mechanisms that will support its vision to shift towards a knowledge-based economy.

Al Mansouri praised the leading Swedish experience in this area, specifically in terms of linking between establishments of developing projects and scientific research centres.

In a speech at a workshop on "Innovation and Business Incubators in the UAE", organised by the Ministry of Economy at the Meydan Hotel in Dubai, in collaboration with the Swedish Incubators & Science Parks, SISP, and the Swedish Business Council, Al Mansouri noted that the UAE has signed a Memorandum of Understanding, MoU, with Sweden in the areas of innovation, small and medium enterprises, for cooperation and exchange of expertise and experiences so as to enhance the capabilities and resources of the country.

Al Mansouri said that the entrepreneurial sector in the UAE is on the threshold of a new phase in the light of possibilities that the country is working to supply in order to make it more competitive.

The workshop was attended by Mohammed Ahmed bin Abdul Aziz Al Shehhi, Under-Secretary of the Ministry of Economy for Economic Affairs and Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade and Industry, along with a number of senior officials and entrepreneurs.

Source:WAM