Mattar Mohammad Al Tayer, Director-General and Chairman of the Board, Dubai Roads and Transport Authority, (RTA), gives a keynote presentation on Transportation of the Future on the second day of the Summit in Abu Dhabi on Wednesday. Image Credit: Abdul Rahman/Gulf News

Dubai: His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, launched the Mohammad Bin Rashid Award for World Prosperity at the Global Manufacturing and Industrialisation Summit in Abu Dhabi on Wednesday.

“Mohammad Bin Rashid has fundamentally contributed to promoting the culture of innovation and creativity locally and internationally,” Shaikh Mohammad Bin Zayed said on Twitter, adding: “the award, named after Shaikh Mohammad, symbolises the happiness and hope maker whose enlightened vision has opened up new scopes of innovation and creativity.”

The award will be granted annually to industrial innovations that serve the humanity and contribute to re-building the world economic prosperity, according to news agency Wam.

The Shaikh went on to post about how selecting the UAE as the host country for the manufacturing summit mirrors its international stature and efforts being made to build a better and more successful future.

“The process of rebuilding the world economic prosperity is based on cooperation between all segments of the international community in order to adopt a global vision for the industrial sector future,” he wrote.

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai was the first in the world to launch the Fourth Industrial Revolution Council, making the UAE the world’s first country to steer its efforts towards the future and leading the global movement towards the fourth Industrial revolution techniques, Shaikh Mohammad Bin Zayed added.