UAE announces AED 300 billion plan to boost innovation

The UAE is working on a AED 300 billion plan to foster innovation and build a knowledge economy. The Emirates Science, Technology and Innovation Higher Policy will focus on 100 initiatives, with major investments in education, health, energy, transport, space and water. President His Highness Sheikh Khalifa bin Zayed Al Nahyan made the announcement as part of national Innovation Week celebrations. Funds will mainly go towards research and development, as well as increasing the number of people working in the knowledge economy by 2021.