Connect with us


Ministry of Economy, Harvard University partner to support UAE’s economic policy



ABU DHABI, 14th December, 2021 (WAM) — The Ministry of Economy (MoE) signed a cooperation agreement with the Harvard University’s Growth Lab to develop a two-year joint work programme.

Through this programme, the University’s leading academic expertise will be deployed to build evidence-based economic analyses and new economic models to support economic policies in the UAE, and to strengthen the economic capability in the UAE Government.

The agreement was signed during a virtual meeting attended by Abdullah bin Touq Al Marri, Minister of Economy; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; a number of senior Ministry officials; and Professor Ricardo Hausmann, Director of Harvard Growth Lab, along with Professor Robert Lawrence and other officials from the Harvard University and several national universities in the UAE.

Bin Touq said, "The partnership with Harvard University’s Growth Lab falls in line with our efforts to develop a new model for the formulation of future economic policies according to a proactive and flexible approach, in partnership with the national universities and the global academic community."

He added, ‘The new agreement represents a major milestone that paves the way towards the establishment of the ‘UAE Growth Lab’, which was launched His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, during his visit to the Ministry's headquarters last June. The Lab is based on three main pillars, namely, the cooperation programme with four leading national universities, including the United Arab Emirates University, Zayed University, the American University of Sharjah, and New York University Abu Dhabi, in addition to the cooperation agreement between MoE and the University of Birmingham in UK to provide academic and research support for UAE’s economic development policies and initiatives. Finally, the cooperation with Harvard University’s Growth Lab will now provide experimental and theoretical models to test the proposed economic policies in the UAE and measure their long-term impact."

The Minister of Economy continued, "There is no doubt that knowledge, talent and creative minds are the main pillars of the new economy and the primary engine of future growth. The ‘Projects of the 50’ announced recently by the government of the UAE further demonstrates this trend in terms of initiatives related to the restructuring of the residence and visa system, the type of investments to be attracted, and the form of new business partnerships and the targeted global markets. All these initiatives are aimed at building and strengthening the country’s capabilities in the knowledge sectors and new economy fields."

He explained that cooperation with academic and educational institutions plays a pivotal role in building and developing human capital and knowledge economy tools. He added that the cooperation with Harvard Growth Lab represents a new experience in the formulation of the features and policies of the future economy, by linking academic research and employing data and modern economic models in the formulation of policies.

Meanwhile, Hausmann said that the UAE has highly competitive economic components that enhance its ability to deal with various global challenges. The country was therefore able to navigate them successfully with a clear vision to develop opportunities in new sectors that serve growth requirements and further enhance its position as a destination for business and finance in the region. He also underlined the importance of the agreement signed between the Lab and the Ministry of Economy in building a framework for promoting this trend in the future through the implementation of specialised research and the development of economic policies and innovative development programmes.

Hausmann added, "The economic openness policies adopted by the UAE, its capabilities in terms of infrastructure, technology, transport and logistics services, and the investor-friendly and attractive business environment, contributed to strengthening the country’s position as a preferred destination for multinational companies to open their regional headquarters in. The methodology adopted by the UAE to deal with the challenges imposed by the global pandemic provided the world with an important lesson about the ability to anticipate opportunities and transform challenges into development and a more flexible economic model. This made the UAE one of the fastest countries to overcome the recession and restrictions imposed by the pandemic, placing its national economic growth on the right track and moving towards new international partnerships."

Under the terms of the agreement, the Harvard Growth Lab will allocate the resources required to support the various functions of research development in the areas of growth, trade, investment, competition, as well as other areas related to sustainable growth. In addition, this will include the designing and implementation of policies aimed at building research skills and capabilities and strengthening the use of data in data-based research and analysis.

The Harvard Growth Lab is specialised in theoretical and empirical research on the determinants of growth and its social, political, and environmental sustainability. It focuses on 4 main pillars: economic complexity, which aims to measure the macroeconomic; the growth diagnostics, which is a methodology for identifying obstacles to the ability of countries to grow; inclusive growth which consists of measuring the ability to achieve comprehensive growth and ways to increase productivity; skills and human capital including the workforce in knowledge-producing sectors.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Ministry of Health authorises new ECG app with 95% accurate, instant results



DUBAI, 26th January, 2022 (WAM) –The Ministry of Health and Prevention (MoHAP), in cooperation with ProCardio Medical Equipment Company, is showcasing at the Arab Health 2022 the latest ECG interpretation and analysis smart app, with 95% accurate and instant results.

This comes as part of the ministry's efforts to help healthcare providers and patients to use the latest innovations in reading and diagnosing the electrocardiogram (ECG) results accurately and instantly, leading to a better and faster diagnosis, especially for critical cases.

The app is now available for use in the UAE after having been licensed by the ministry's Health Regulatory Sector. The app can accurately and quickly read, analyze, and diagnose the patient's condition, which would be particularly important in dealing with critical cases, such as cardiac arrhythmia "an irregular heartbeat".

Using artificial intelligence technology, the ECG can be read and data analyzed by the paramedic teams within 10-30 seconds, whether during road accidents or at home. It can transfer the real image of the ECG reality to the hospital after analyzing it with an accuracy of up to 95%, which contributes to reducing time and effort and saving patients' lives.

The application has the ability to diagnose (45) heart diseases in less than 10 seconds, including cardiac arrhythmia, conduction disorders, myocardial infarction, ventricular and atrial hypertrophy, pericarditis, angina pectoris.

"The new project comes in line with the ministry’s efforts to attract, license, and register innovative medical products and advanced applications that support and facilitate the work of health care providers and members of society," said Dr. Amin Hussein Al-Amiri, Assistant Undersecretary for the Health Regulation Sector. "We are also keen to promote the use of modern technology which plays a major role in producing medical and digital equipment and supplies.

Al Amiri asserted that the trend towards the use of cutting-edge technology would help enhance the country’s competitiveness by creating a legislative and investment environment keeping pace with international best practices, thus cementing the UAE's status as a global destination to attract global and digital medical companies and motivate them to open branches in the UAE.

Thanks to the UAE's success in preserving the intellectual property rights of manufacturing medical equipment and innovative medicines, the ministry seeks to encourage hundreds of international companies to choose the UAE as a regional headquarters for its logistical stock of medical and pharmaceutical products and items.

This would help support patients, the treatment system, and the medical tourism program, to attract patients from across the region to get their treatment in the UAE, Al Amiri said in conclusion.

Continue Reading


Crown Prince of Fujairah visits sculpture placed between the sunset and sunrise of Al Haniyah desert



FUJAIRAH, 26th January, 2022 (WAM) — H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, stressed the importance of creative arts in depicting human history and its development, building bridges of communication and tolerance between people and shaping their culture.

H.H. Sheikh Mohammed paid the visit to Al Haniya desert of the Emirate of Fujairah with his children, to view the art of Italian sculptor "Jago" entitled "Look here", which was recently moved to Al Haniya desert in Fujairah.

He listened to statements about the art piece, it’s idea, and the journey of moving it from Italy to the UAE with the support of Fujairah Government. The artist conveyed his gratification the great media and society interest that the sculpture received after it was transferred from Naples, where it was exhibited previously for six months. It finally moved to its new tranquil home on the unique sands of Al Haniyah.

His Highness commended the efforts made to transfer the art installation to Al Haniyah desert in Fujairah, as this step constitutes the artistic and touristic importance of the emirate, and enhances the region’s aesthetic and biodiversity value. The sculpture also led to capturing innovative and creative expressions by the people who settled, took the time to search for it and document it through social media and art.

The sculpture, which is in the shape of the infant, attracted the attention of visitors and artists from all over the UAE. Citizens, expatriates and tourists flocked to experience the art through photography, picnics and painting workshops, which made Al Haniyah desert a trending and unique tourist destination. This unique terrain that combines mountains and desert had a new element of beauty added to it through the concept of human art expression and merging of different cultures.

The art project was launched late November of last year as a unique and innovative tourism and art experience to unveil the hidden desert of Fujairah that little was known of. The sculpture was intentionally placed at the meeting point of mountains and desert anonymously. This led to it being discovered by tourists and visitors turning it to a first of its kind tourism experience that has art, experimentation and exploration at its core. Tourists posted and tagged the newly launched official tourism social media platform @discoverFujairah.

Italian artist Jago thanked His Highness the Crown Prince of Fujairah for his support to art and artists, and for facilitating the execution of this art project and adding it to the rich culture of Fujairah. Jago expressed his happiness with the great interaction and interest the art sculpture has received from the UAE community and looks forward to future collaborations.

Continue Reading


COVID-19 media briefing: UAE a distinguished model of containing COVID variants



ABU DHABI, 26th January, 2022 (WAM) — Dr. Farida Al Hosani, Official Spokesperson for the UAE Health Sector, said the UAE is a distinguished model of containing coronavirus (COVID-19) and its variants, thanks to the directives of its leadership.

During the UAE Government media briefing on the pandemic, she said the UAE has utilised artificial intelligence (AI) to analyse information and continue its proactive measures, which include performing extensive testing nationwide.

"The health sector is continuing its efforts to achieve community immunity, by providing vaccines to eligible categories," she added, noting 100 percent of the population have received the first dose of the vaccine while 93.73 percent are fully vaccinated.

She stressed that people's health and safety is a national priority, noting the UAE has been keen to provide vaccines and booster shots, to protect the population from the virus and its variants.

World Health Organisation (WHO) studies and research have proven those who have received COVID-19 booster shots are unlikely to get a severe infection, Dr. Al Hosani explained, urging members of the community to get the vaccine to achieve collective immunity.

She then pointed out the health sector is keen to raise the public's awareness about the pandemic and provide it with accurate and transparent information via official platforms.

"The medical sector is stressing the importance of the cooperation between all sectors and the public's adherence to adopted health protocols and precautionary measures," she said.

Continue Reading