16 Aug, 2016
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While the UAE targets top 10 countries in Global Innovation Index by 2021 it has scored a significant improvement in its innovation standing on the 2016 Global Innovation Index which was officially launched in Geneva, Switzerland.
The UAE came first among Arab countries and 41st worldwide in terms of overall performance on the index, up from second in the Arab World and 47th globally in 2015.
This year’s Global Innovation Index measured the performance of 128 countries and economies in the area of innovation which represents the majority of the global workforce and global GDP. The 2016 index is based on 82 sub-indices which measure innovation in detail and provide a clear understanding of how it drives economic growth and prosperity.
The index results attributed the outstanding progress made by the UAE this year to its sustainable achievements in innovation inputs, especially the strengthening of institutions and market sophistication. The UAE has one of the best political and legislative environments in the world along with outstanding development in information technology, communications, infrastructure and innovation linkages.