The UAE Ministry of Economy will be promoting research and development in the public sector at the Annual Investment Meeting, the world’s largest foreign direct investment (FDI)-focused event.

AIM 2016 is being held at the Dubai International Convention and Exhibition Centre between April 11 and 13.

UAE minister of economy Sultan Bin Saeed al Mansorri revealed that the UAE occupies a leading position in the area of investments in scientific research, as reflected by its first rank among Middle East countries in terms of overall performance in the 2014 Global Innovation Index.

He further stressed that the sector still needs support in the Arab region and the world. “The sixth edition of AIM will identify key factors to help countries increase investment allocations in the R&D field. We were inspired by the vision of the leadership in the UAE, which calls for promoting innovation and support for young and talented entrepreneurs, as well as encouraging investment in the education sector, attracting leading practices through FDI that help transfer knowledge and expertise,” he added.

Investments in scientific research and development are seen as key factors to economic development. Unesco estimates that the money spent on the Arab citizen in the field of scientific research annually doesn’t exceed more than $14, while the spend on the American citizen and the European is more than $1,200 annually. -TradeArabia News Service