DUBAI: Expatriates who have made their home in the UAE and nationals should work together to drive innovation, Al Maskari Holding Group Chair Shaikha Al Maskari told delegates to the UAE Economic Outlook Forum.
In an informal and humorous speech at the Palazzo Versace hotel on Wednesday, Al Maskari said innovation could be used in many contexts, from improving productivity to diplomacy, but it required the right mindset and a breaking down of cultural barriers.
“Citizenship is not a passport,” she said. “A passport is a legal identity. Citizenship is whether you feel at home. You enjoy the same privileges I have. The only difference is free medical, free water and free education.”
She added, “Every achievement is another bridge built.”
Fellow panellist Abdul Baset Al Janahi, CEO of Dubai SME, agreed innovation was a way of thinking.
“It is our objective ... to drive innovation,” he said. “We invest, provide funding, give access to government contracts, train them.”
Shady Shaher Elborno, Head of Macro Strategy at Emirates NBD, pointed out that innovative economies were more productive. He identified three key factors in encouraging innovation: the physical infrastructure, which Dubai had; the soft infrastructure, which the recent bankruptcy law would help; and the role of large corporations in supporting small and medium enterprises (SMEs).
Elborno and Dubai Design District CEO Mohammad Saeed Al Shehi both said 2017 would prove to be a pivotal year for the UAE, Elborno saying that after a year of adjustments, the economy was now on a healthier footing, and Al Shehhy saying the year would be the point at which the UAE would move from a knowledge-based economy to an innovative one.
