The UAE Economic Forum (UAE EF) is a joint initiative of the economic departments in all the seven emirates and the Ministry of Economy in the UAE. Counted among the most prominent annual events in the UAE, the Forum will be hosted by Dubai in 2019, followed by the other emirates in the coming years. The event brings together public and private sector stakeholders and decision-makers in economic planning in the UAE to discuss the most relevant economic and social issues in the country and review strategic initiatives being implemented nationwide as well as in each emirate.
The Forum plays a pivotal role in advancing the UAE’s national agenda. These include the ongoing plans to make the UAE one of the best and the most innovative nations in the world by the year 2021 (UAE 2021 Vision, National Innovation Strategy, Dubai 2021 Plan and Health Strategy, Ajman 2021 and Sharjah Tourism Vision 2021), and also the 2030 Agendas including Abu Dhabi Economic Vision 2030 and Abu Dhabi Environment Vision 2030, Dubai Industrial Strategy 2030, and Dubai 3D Printing Strategy.
Building on the successes of the two legacy platforms, the UAE EF seeks to inform economic policymaking, promote strategic thinking, and demonstrate responsible entrepreneurship in the most innovative ways and for the benefit of society. To that end, UAE EF engages the foremost government, business, regional and international economic organizations, academia and other leaders of society who will gather once a year to exchange information and experiences in open and dynamic discussions.
The Forum’s web page, http://economicforum.ae/, is a repository of presentations, proceedings as well as various publications issued by the Federal and local government entities.
The theme of this year’s forum is “The UAE Enterprising Economy: Resilience, Growth & Prosperity.” Its objectives are to:
- Present and discuss the economic outlooks for the UAE and its seven Emirates;
- Shed light on the current strategic plans each Emirate and the Federal Government have adopted and share experiences and lessons learned, and identify areas for enhanced collaboration;
- Highlight on-going and planned initiatives and projects, public and private, that will support growth in the short to medium term.
Representatives from leading businesses, policy and thought leaders, innovators, students and experts from the UAE and beyond.
THE UAE ENTERPRISING ECONOMY:
RESILIENCE, GROWTH & PROSPERITY
As countries the world over are resetting their paths to competitiveness, growth and prosperity, the UAE remains steadfast on its own path that its leadership has defined decades ago: openness to trade, investment, people and ideas; diversity of the workforce; entrepreneurial spirit and culture; and, collaboration and cluster development. This has paved the way for the emergence of a business-friendly environment in the UAE that is the best in the Arab region, and 11th globally in the World Bank Ease of Doing Business 2019 report.
Put together, the set of economic policy choices that the UAE leadership has taken has given rise to the emergence of the Enterprising Economy, a new and unique economic development model where leadership, vision, inclusiveness and courage play a decisive role in driving sustainable growth and generating prosperity.
The Enterprising Economy is an economy where, in the words of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai “when people hesitate due to changes in economic conditions, we sprint to change; and when they are afraid of the future, we rush to build it.”
The UAE Enterprising Economy is a development model driven by a visionary leadership that thinks ahead and courageously. It engages all stakeholders in defining clear and transparent targets through successive strategic plans that provide detailed road maps of where we, public and private actors, want to be next year and the years that will follow. The maps and the targets are the result of continuous engagement, discussions and then agreements with all the stakeholders. Importantly, the government plays a participatory, regulatory and coordinating role in the execution of the plans, taking bold actions and investing its own resources in launching new, innovative projects, and in doing so acts as a catalyst for private sector investment.
It is within this context that the inaugural UAE Economic Forum is being organized. Private sector champions, policy makers and experts will share their views and experiences and highlight options for the future. Each panel discussion will be followed by a Q&A session.