STRENGTHENING FROM WITHIN
TBY talks to Mohammed Ahmed Bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of Economy of the UAE, on the value of creativity, the development of the industrial sector, and supporting SME development.

BIOGRAPHY
Mohammed Ahmed Bin Abdul Aziz Alshehhi has been the Undersecretary for Economic Affairs at the Ministry of Economy of the UAE since October 2006. He has provided strategic leadership to the Ministry of Economy in aligning policies and administration with global economic parameters and the visionary UAE 2021 vision. Over the last five years, he supervised the comprehensive program of the ministry to review and modernize the entire legal framework regarding economic activities in the UAE. He holds an Executive MBA from the American University of Sharjah and a bachelor’s degree in electrical engineering from the University of South Florida-Tampa.How are innovation and creativity pushing the country's development, and which sectors have benefited the most from investments in these areas?
Ever since the government began laying the foundation for an environment that fosters knowledge and innovation, we have seen higher interest in entrepreneurship as a direct result of SMEs and start-ups getting access to much-needed funding. Efforts for human capacity building, especially among citizens, are ramped up to complement the country's steady modern-day growth. Knowledge and innovation play a crucial role in the country's efforts to diversify its sources of income as well by building an industrial environment fueled by knowledge, innovation, modern technology, and scientific R&D. Additionally, sustainability enablers are empowered through the enactment of important policies aimed at promoting faster industrial growth in line with UAE Vision 2021. All sectors are fully committed to the UAE's bid to adopt a knowledge- and innovation-driven economy thanks to their proven benefits and necessity. At the Ministry of Economy, for instance, we have launched 12 relevant initiatives and 39 projects covering a wide spectrum of creative developmental activities, specialized micro-projects, and manufacturing and research initiatives.
With a 16% share of the national GDP, the industrial sector has been positioned as the beacon for economic diversification. What have been the major advances in this regard during 2016?
In 2016, we witnessed a high-performing and vibrant local industrial sector on account of a strong economy supported by key government policies such as the economic diversification strategy. The sector's core areas have remained resilient despite global uncertainties thanks in part to this all-encompassing strategy, which also seeks to reinforce the performance and efficiency of the local business community. The UAE is now in fact the third-most efficient market in terms of goods, which could be viewed as the result of our government's efforts to reduce our reliance on oil. The non-oil sector's GDP contributions in 2015 climbed to about 77% at current prices and 70% at constant prices. For our part, the ministry is fully committed to doing its share by continually supporting investment spending on strategic and value-added projects.
The newly implemented Bankruptcy Law has raised expectations regarding better practice for indebted SMEs. What is your view of the impact of the law on the SMEs and the national economy?
The government has enacted the law and undertaken other measures precisely to fuel the growth of SMEs. Increased incentives, establishment of a common definition for SMEs, and provision of modern facilities and benefits tailored to fit the needs of SME owners and local entrepreneurs have been put in place to initiate growth and development in the sector. The approval of the Executive Regulations to the Federal Law on SME projects to incentivize local businesses and provide them with access to funding has further stimulated its expansion. The Ministry of Economy has forged strategic partnerships with various countries to further invigorate the SME sector, improve its competitiveness, ensure its sustainable growth, and widen its reach by facilitating its entry to new foreign markets, with emphasis on innovation, technology, and knowledge.
What are the economic prospects of the ongoing plan to build a vibrant knowledge-based economy in the UAE in terms of job creation, attracting young entrepreneurs, and contributing to the country's economic diversification?
All our efforts are geared toward putting the UAE in the top-10 countries on the Global Innovation Index, in line with UAE Vision 2021. The UAE has already achieved significant milestones and progress in its journey towards economic prosperity, as evidenced by its inclusion in the 2016 Global Innovation Index. The Ministry of Economy has also opened the state-of-the-art International Centre of Patent Registration (ICPR) in collaboration with its South Korean partner. The new international center will also conduct a skills development-training program for professionals in the field of intellectual property as well as pursue research on relevant topics.

TABLE OF CONTENTS
Inside Perspective
Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister, UAE
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Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council and Ruler , Sharjah
Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council and Ruler of Sharjah, has been instrumental in the growth and development of Sharjah, with his passion for academia a driving force in the growth of the knowledge economy.
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Sheikh Saud Bin Saqr Al Qasimi, , Member of the Federal Supreme Council and Ruler , Ras Al Khaimah
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Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince, Ras Al Khaimah
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Christer Viktorsson, Directing General, Federal Authority for Nuclear Regulation (FANR)
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Saif Mohammed Al Suwaidi, Directing General, UAE General Civil Aviation Authority (GCAA)
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Dr. Eng. Mohammed Nasser Al Ahbabi, Director General, UAE Space Agency
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Mohammed Ahmed Bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of Economy , UAE
TBY talks to Mohammed Ahmed Bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of Economy of the UAE, on the value of creativity, the development of the industrial sector, and supporting SME development.
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Mansour Al Mansoori, Directing General, National Media Council (NMC)
TBY talks to Mansour Al Mansoori, Director General of the National Media Council (NMC), on the changing nature of media consumption in the UAE, developing local content, and improving literacy in the Emirates.
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Khalifa Bin Salem Al Mansouri, , Undersecretary of the Department , Economic Development – Abu Dhabi (ADDED)
TBY talks to Khalifa Bin Salem Al Mansouri, Undersecretary of the Department of Economic Development – Abu Dhabi (ADDED), on its plans to make the Emirate a better place to do business, the new industrial plan, and how it is fostering innovation.
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Khaldoon Khalifa Al Mubarak, Group CEO & Managing Director, Mubadala Investment Company
TBY talks to Khaldoon Khalifa Al Mubarak, Group CEO & Managing Director of Mubadala Investment Company, on how the merging of two key investment entities will drive Abu Dhabi's diversification strategy.
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Dr. Sultan Al Jaber, CEO, Abu Dhabi National Oil Company (ADNOC Group)
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Maryam Eid AlMheiri, CEO, Media Zone Authority – Abu Dhabi & twofour54
TBY talks to Maryam Eid AlMheiri, CEO of the Media Zone Authority – Abu Dhabi & twofour54, on the growth and development of the Emirate as a media and film production hub, and the Emirati values she hopes to spread during the “Year of Zayed."
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Laurent A. Voivenel, Senior Vice President Operations and Development for the Middle East, India, and Africa, Swiss-Belhotel International
TBY talks to Laurent A. Voivenel, Senior Vice President Operations and Development for the Middle East, India, and Africa, Swiss-Belhotel International, on the sector.
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Hamad Buamim, President & CEO, Dubai Chamber of Commerce & Industry
TBY talks to Hamad Buamim, President & CEO of Dubai Chamber of Commerce & Industry, on boosting trade with Latin America, digitizing government services, and capitalizing on the China-Pakistan Economic Corridor.
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Sami Al Qamzi, Directing General, Department of Economic Development (DED)
TBY talks to Sami Al Qamzi, Director General of the Department of Economic Development (DED), on transforming Dubai into a smart economy, creating the happiest city in the world, and securing a knowledge-based economy for the future.
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Sheikh Ahmed bin Saqr Al Qasimi, Chairman, Ras Al Khaimah Economic Zone (RAKEZ)
TBY talks to Sheikh Ahmed bin Saqr Al Qasimi, Chairman of Ras Al Khaimah Economic Zone (RAKEZ), on the establishment of the economic zone, the benefits of operating in the zone, and attracting international clients.
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Ramy Jallad, Group CEO , Ras Al Khaimah Economic Zone (RAKEZ)
TBY talks to Ramy Jallad, Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), RAK Free Trade Zone (RAK FTZ), and RAK Investment Authority (RAKIA), on the Emirate's comfortable position within the GCC, increasing investment, and upcoming projects.
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Sheikha Bodour bint Sultan Al Qasimi, Chairperson , Sharjah Investment and Development Authority (Shurooq)
TBY talks to Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), on the principles guiding Sharjah's economic development strategy, opportunities for private sector contribution, and the role of entrepreneurship in the Emirate.
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Sultan Abdullah bin Hadda Al Suwaidi, Chairman, Sharjah Economic Development Department (SEDD)
TBY talks to Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the Sharjah Economic Development Department (SEDD), on attracting FDI and optimizing customer satisfaction to support Sharjah's economic growth.
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Sheikh Khalid bin Rashid Al Mua’lla, Chairman, UAQ FTZ
TBY talks to Sheikh Khalid bin Rashid Al Mua'lla, Chairman of UAQ FTZ, on enacting the most investor-friendly set up processes, providing the right world-class amenities for long-term growth, and serving as a great impetus for industrial diversification.
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Saeed Nasser Al Talay, Chairman, Umm Al Quwain Chamber of Commerce and Industry
TBY talks to Saeed Nasser Al Talay, Chairman of Umm Al Quwain Chamber of Commerce and Industry, on the biggest land investment opportunities, boosting investment in IT and construction, and on best PPP collaboration practices.
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Ali Eissa Alnuami, Directing General, Department of Economic Development-Ajman (DED-Ajman)
TBY talks to Ali Eissa Alnuami, Director General of the Department of Economic Development-Ajman (DED-Ajman), on increasing investor happiness, enhancing consumer rights, and treating foreigners like locals.
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Dr. Thumbay Moideen, Founder & President, Thumbay
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Mohammed O. Bin Majed Al Aleeli, Managing Director, Fujairah Department of Industry and Economy
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Khalid Mohammed Al Jassim, Directing General, Fujairah Chamber of Commerce and Industry
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Dr. Salem Abdu Khalil Mohamed Al Zyni,, Technical Advisor , Fujairah at Fujairah Oil Terminals
TBY talks to Dr. Salem Abdu Khalil Mohamed Al Zyni, Technical Advisor for the government of Fujairah at Fujairah Oil Terminals, on getting vessels to switch from offshore to onshore, the cyclical nature of the industry, and staying one step ahead of clients' needs.
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