Knowledge Village a catalyst for future growth, says Mohammed

Development costs of the Knowledge Village - the third arm of the Dubai Technology and Media Free Zone - totalled nearly Dh300 million, and is expected to play a pivotal role in boosting private sector spending in the fields of education and research.

Knowledge Village was opened yesterday by General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister, who said that it is a "vitally important ingredient in the strategy of Dubai and our vision of a diversified, balanced economy in which the knowledge-based skills of the community are central to our continued success in the global economy.

"The Technology and Media Free Zone are a trilogy of organisations and today we celebrate the third part, in which the seeds of knowledge, which will help nurture the whole zone, are being firmly sown in the fertile ground of Knowledge Village.

"Knowledge Village will be the catalyst for the development of a strong and sustainable future, based on the wealth of our knowledge - our human resources rather than our natural resources."

As its primary target, Knowledge Village will look to tap internationally accredited universities, professional training centres, e-learning, education service providers, innovation centres, certification and testing organisations and incubators.

"The intensive studies we conducted demonstrated that the demand on the educational and training services in the region are estimated to mark a record in the coming years, not only as a result of the high growth of population, but also because of the growing interest of the private sector in these fields," said Sheikh Maktoum bin Rashid Al Maktoum, chairman of the board of Dubai Technology and Media Free Zone.

"The establishments based at Knowledge Village will benefit from their location within a knowledge cluster that hosts nearly 1,400 companies in Dubai Internet City and Dubai Media City, along side the advantage of working in a vibrant environment."

According to Ahmed bin Byat, director-general of the Technology and Media Free Zone, "Knowledge Village is an essential vehicle to help move the region towards an economy and society based on knowledge. It will promote a new culture of learning, which is a rapidly developing global phenomenon that creates a symbiotic relationship with industry," he added.