On November 21, 2015, the Vice President and Prime Minister of the UAE, and Emir of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum has announced about AED 300bn investment into the Science, Technology and Innovation Policy, including 100 national initiatives.
“The UAE has set its course for a post-oil world through investing in the development of our people in the fields of science and advanced technology”, commented the President HH Sheikh Khalifa. The plan includes new national policies in legislation, investment, technology, education and finance.
Due attention will be given to such fields as robotics, solar power, and bio-technology. Sheikh Mohammed said that the policy will also protect intellectual property rights, attract scientists and researchers to the UAE.
Investment into R&D has tremendous potential to reduce the UAE oil dependence. “Our aim, as my brother Sheikh Mohammed bin Zayed, has said, ‘is to celebrate the last oil barrel we export because we will be prepared for that day when it comes’.”