Due to the diverse culture in the UAE, the innovation index has recognised its development and has regarded Dubai to be the 14th most innovative city in terms of creativity, talent, and skills in the business industry. One of the reasons for its fast growth is the extensive services and amenities provided by the government. The legal authorities have recently taken all the regulations into consideration to ensure that business owners and associates do not undergo difficulty in completing requirements to expand their company overseas.
Additionally, reports have shown that there is a significant number of Indian entrepreneurs who are migrating from their home country to start a new venture in UAE. To make it hassle-free, the government bodies are also coming up with many innovative strategies and initiatives to develop the country economically and financially.
The innovation index was first launched in 2007 and since then, Dubai and San Francisco are the only two cities who have shown constant improvement in the business sector. In a recent survey conducted in 2018, it was claimed that 92% of the respondents believe that innovative and creative strategies have improved the overall growth of companies, benefiting the country’s economy. The innovative index comprises of three major aspects namely innovation enablers, measuring the level of innovation and honouring those who are innovative. This report was released during the innovation month of UAE, wherein innovative minds and corporations are celebrated.
Experts proclaim that the services provided by the government and the talent in the country go hand in hand. For instance, the numerous facilities provided by the government has enabled people to form or expand their businesses in UAE. Moreover, it is also because of the talent and skills of business executives and owners that enabled them to cope with the fast-moving business sector.
Furthermore, The Dubai Chamber of Commerce has announced they will invest almost 100 million Dirhams in innovative and creative projects in the coming years. UAE is going to focus on developing clients from abroad, embracing newer technologies and implementing better educational systems across the country. As a result, this will benefit the overall economy and reputation of this fast-developing country.
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