The United Arab Emirates (UAE) signed 12 memorandums of understanding (MoU) on Monday with a number of future partners to develop an innovation and manufacturing area, which will help enhance its strategic plan "UAE Centennial 2071".
The MoUs tackle several sectors such as aviation, transport and logistics, health, retail, consumer goods, technology and more, adding up to over 11 vital sectors.
Vice President and Prime Minister of UAE, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum attended the signing ceremony of the MoU “Partners of the future 2071” between Area 2071 and a number partners representing local and international companies.
The signing ceremony was attended by Crown Prince of Dubai and Chairman of Dubai Executive Council Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Minister of Cabinet Affairs and The Future Mohammad bin Abdullah Al Gergawi, Minister of State for Financial Affairs Obaid bin Humaid Al Tayer, Minister of State for Happiness and Wellbeing Ohoud bint Khalfan Al Roumi, and Minister of State for Artificial Intelligence Omar bin Sultan Al Olama.
During the event, Sheikh Mohammed stated that Area 2071 was launched to provide a zone dedicated to innovation and industry of the future.
He explained that 12 MoUs were signed with various partners in 11 vital sectors.
"Area 2071 will see specialized labs and partnerships between governments and global tech leaders, who will work together to design the future," announced bin Rashid.
Last May, Mohammed Bin Rashid inaugurated the "2071 Zone" at the Emirates Towers in Dubai to serve as an incubator for future design and manufacturing partners and as a venue for companies, services and smart laboratories worldwide.
Several entities signed MoUs with Area 2071, including the United Nations, Pfizer, Proctor and Gamble, Ernst and Young, the Mohammed bin Rashid Center for Government Innovation, the Dubai Department for Economic Development, Pico Capital, Genco General Contracting, IBM International, E11, 1776, DP World, and Wamda Capital.
Area 2071 currently includes the UAE’s Government Accelerators as part of the government’s mission to intensify efforts and accelerate government work by addressing challenges facing various public sectors.
It also includes Dubai Future Accelerators which seek to develop an innovative system that links government entities in the UAE with the most important international experts in order to best serve the various vital sectors in the country.
The Youth Hub is also part of Area 2071 as one of the world’s best centers for youth under the age of 30 to work and develop innovative ideas.
Area 2071 seeks to attract more world-class institutions, specialized laboratories, research center and creative people including scientists and researchers, to enhance innovative solutions to development challenges facing the UAE and the world.
The area will seek to help humanity as a whole by providing a model, developed by the finest minds, experiences and resources in the world, to face the most pressing humanitarian challenges and build our future societies.