The United Arab Emirates (UAE) has retained its top position as the Arab world’s most innovative country in 2019. Also, the UAE has improved its global ranking position by two positions to reach 36th. This ranking is released by the annual Global Innovation Index (GII).
In the last four years, the UAE’s ranking has improved consistently. It has moved 11 spots from 47th position in 2015 to 36th in 2019. On the innovation input and output sub-indices, it ranks on 24th and 58th position.
UAE has the lowest redundancy dismissal cost for the companies as per the report. GII ranks 129 countries on the basis of their capacity to innovate, human capital and research, infrastructure, market sophistication, business sophistication, knowledge and technology outputs, and creative outputs.
In 2019, the UAE’s ranking increased among the key sub-indexes. The creative output index improved by 20 positions while the research improved by 13 positions to reach 18th spot in 2019.
UAE has taken many new initiatives like developing intellectual property, boosting a unified network, promoting innovation, etc.
Sultan bin Saeed Al Mansouri, UAE Minister of Economy said, “Newer initiatives will be rolled out with the chief goal of further expanding fundamental and applied research conducted in the country and linking it to robust financing mechanisms. In addition, the country is looking to enhance the knowledge economy by amplifying the number of intellectual property applications and registrations made inside the UAE through the attraction of foreign companies and the introduction of licenses for IP holding companies.”