Do you know that as early as October of 2014, the National Innovation Strategy (NIS) was launched by Sheikh Mohammed to make UAE among the most advanced nations worldwide by 2021? Its framework is formed around a setting that promotes novelty for its champions: the people, firms, groups, and the government. And its priority areas for advancement are technology, renewable energy, transport, education, health, water, and space.
This comes as no surprise since even cities in the U. S. exist challenged to do the same to prevent decline. With the innovative business strategies in Dubai in line with the NIS, Dubai has embraced an approach to face its problems and cut through a bright time ahead. Being a sleepy city in a barren region in the past, Dubai is now a global metro. Without any doubt, it is the leading UAE city and the center for finance, business, shopping, and travel.
Its wealth stayed steadily growing fast for the last three decades or so, starting in 1975. Although it went through setbacks due to the 2008 global fiscal crunch, it quickly made progress, unlike many other countries. Now, focused on creating a new shift for growing, innovative business strategies in Dubai are being embraced.
Dubai is a global leader in creating a clean, renewable power sector through its Dubai Clean Energy Strategy 2050. It has fostered many methods and systems towards perking up the fitness of its power sector as it accounts for its use while finding other options to standard power.
As a result, this maintains Dubai's viable growth. The innovative business strategies in Dubai were started by Sheikh Mohammed bin Rashid Al Maktoum, Dubai's ruler, to provide 75% of its power volume from clean power by 2050.
With critical projects across the sea, land, and air rolling at this time, Dubai's transport segment stays pushing a lot of its global economic success. The government remains fully committed to the continuous progress of this groundwork, with new laws for public-private joint ventures aiming to boost delivery within the sector.
Meanwhile, Dubai gets itself within an increasingly cut-throat regional economic setting. The current slowing down of global growth, fluctuating gas and oil prices, regional qualms, and an improving dollar are all having an effect on the Emirate, besides its transport segment. Yet, the innovative business strategies in Dubai uniquely place it to tackle these challenges confidently.
A 2019 approach was made for innovative and business open zones within schools across Dubai. As a result, it drove Dubai's startup sector to new zeniths. It took a crucial part in the UAE's growth as an advanced and informed nation. Known as the Dubai Free University Zones Strategy, this was approved by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum.
Its aim was to transform private and public schools in Dubai into free sectors that permit students to do business and novel events as a joint segment of their learning. Innovative business strategies in Dubai also comprised the National Strategy for Higher Education 2030.
A clear path was planned in 2016 for step-ups towards Dubai's sector in health care. By seeking advice from private and public health service suppliers, Dubai Health Strategy has drawn the Dubai Health Authority (DHA) core vision for having people in better health. With 15 planned programs and 100 schemes applied this year, experts are reshaping what it defines as Dubai's health system.
As part of the innovative business strategies in Dubai, these measures exist planned to support total reforms. Its complete control over the setting up of the likely outcomes is softened by Dubai's steadfast practice of an open market approach. This means that private firms are counted on to hand over around 70% of Dubai's health care needs.
Dubai's tech voyage started in 1999 with the broadcast of its prime Information Communication Technology (ICT) approach. After that was the launching of the Dubai Smart Government, Dubai e-government, Dubai Internet City, and the Smart Dubai initiatives in 2014.
During the last two decades, the many digital change schemes, with other innovative business strategies in Dubai, have driven the people's consent of ICT within all facets of life. Today, this city of almost three million people has the highest ICT adoption level in the UAE, both in its government and public sectors.
Taken as a whole, UAE faces many problems in managing water, such as scarce water reserves, high salt levels in the water, and the costly making of drinking water. Also, there are problems due to insufficient water recycling and poor wastewater collection and handling outside of city areas.
As part of the innovative business strategies in Dubai, the Water Security Strategy 2036 was launched in 2017 for UAE's water sector. This approach targets to reduce total water source demand by 21% and increase the output index of water to $110/cubic meter. It also aims to reduce water shortage to 3.58 and boost treated water recycling to 95%. And, counted in is the raising of UAE's water storage volume by forming six linking systems between power and water units all over the nation.
As far as Dubai is concerned, space is a spur for novelty and venture capital. Historically, the economy of UAE, as a whole, has been founded on tourism, hydrocarbon exports, and logistics. The nation has diversified for the last two decades or so. Space plays a vital role in UAE's efforts to attract talent, build experience, and develop a setting where business can flourish.
With the support of Sheikh Mohammed Bin Rashid Al Maktoum, Dubai is transforming into an economy driven by innovation. TECOM Investments adopted in 2015 a new scheme in the creation or increase of creative spaces, innovation complexes, smart buildings, and technology laboratories.
It also launched new trade incubators and set up a staunch startup trust and competition towards stimulating innovation. Through the innovative business strategies in Dubai, a thriving ecosystem is created and maintained.
Indeed, Dubai has pioneered a brilliant quality of existence and a supreme business environment. With research and business innovatively coming together, coupled with a steady influx of inspired people mapping jobs in technology, science, math, and engineering, besides those possessing essential skills, Dubai moves onward to the future.
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