UAE works towards achieving excellence in a digital economy

The Knowledge Conference, which concluded in Dubai on October 30, was held as part of a long-term vision of rapid global changes, especially in view of the new lobbies of super economic powers.

Among these changes is the global economy's drive towards digital economy, which is completely different from the known classic economy.

The importance of this conference and the initiative aiming at achieving excellence in the new fields of digital economy, was in line with the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

In his book, titled My Vision-Challenges in the Race for Excellence, Shaikh Mohammad asks: "For how long will we just keep pace with events? Keeping pace does not mean we are ahead, but merely going along with others... If all we want is reaching the same level as others, we will never make a progress. We must take the initiative, otherwise, we will be mere followers who lag behind."

When an initiative combines poetry, culture and science with a spirit of leadership, such long-term visions can be launched.

The knowledge-based economy changed the concepts, which prevailed in the previous two centuries. Production now depends on knowledge, information technology, telecommunications and media rather than manpower and cheap raw materials. This giant leap of world economy will change the balance of powers and redraw the global economic map.

With its ambitious plans including a switchover to electronic government and e-commerce, in addition to the growing development in the telecommunication and service sectors, the UAE has gained leadership in digital economy among Arab and developing countries.

Although the UAE has taken initiative and is currently managing modern sectors in many countries, including developed countries, it felt the need to attract brotherly Arab countries to this new world. Yet, Arab countries are facing difficulties, especially the big shortage in the digital economy infrastructure, which requires huge investments and efforts.

This initiative will provide great contribution to help Arab countries build their infrastructure, especially with a focus on education and gaining new technologies in schools and universities.

As usual, the UAE took practical steps during the conference and announced the implementation of 25 projects, which require Arab countries to do their part to encourage and facilitate the implementation of such a strategic project.

The go-ahead signal has been given, and the way is paved. It is now time for Arab countries to emulate the UAE's model and its drive towards excellence by converting to digital economy and setting up the infrastructure for electronic governments and commerce.

They must also provide internet connections to more schools, universities and homes and turning it into a daily practice, besides translating a thousand books every year in all fields of human science.

Investments are available, and it is time to stop the brain drain of Arab intellectuals due to lack of opportunities.

Shaikh Mohammad's initiative is a historic landmark, and the next stage will be that of action and hard work. It will be rewarding for those who act now, since they will become part of global digital economy in a few years.

In the past, countries were divided into developed industrial countries and poor agricultural countries, yet the future holds opportunities for all countries. They may not be equal, but they are true.

The writer is a UAE economic expert.

When an initiative combines poetry, culture and science with a spirit of leadership, such long-term visions can be launched.