UAE leadership eyeing sustainable economic competitiveness: RAK Crown Prince

RAS AL-KHAIMAH, 16th January, 2017 (WAM) — The UAE leadership extends full support for establishing a sustainable economic climate that is highly competitive and innovation-based, said H.H. Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras al-Khaimah.

In an article on business and enterprises, he highlighted the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan that feature in all spheres.

He said that the comprehensive development project and the working agenda set by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, seek to help the UAE occupy a leading position internationally in innovation-driven projects.

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, takes a keen interest in investing in human resources, improving their scientific and technical capacities, and encouraging young leadership in all fields, he noted.

In the article, H.H. Sheikh Mohammed bin Saud observed that the first generation relied on steam power, the second on electricity, the third on information technology and automation, while the fourth generation was now relying on smart devices and systems, high connectivity, artificial intelligence and highly complex digital technologies.

Emerging corporations mainly provide creative solutions to fill the gaps in the market and fulfil consumer expectations and are successful in forecasting and meeting the generation of the fourth industrial revolution, he explained.

Taking note of the huge revenues generated by corporations today, their huge capital, the increase in their growth potential and their creative leadership, Sheikh Mohamed remarked that the current era is mainly concerned with value generation.

Stressing the importance of investing in capital that relied on calculated risks, Sheikh Mohammed bin Saud cited examples of successful emerging corporations such as Sequoia, Accel Partners, Andreessen Horowitz, Benchmark Capital and Greylock Partners.