Luxembourg has joined the “Country in Residence” Program in AREA 2071, an initiative of Dubai Future Foundation (DFF), to reinforce knowledge and experience exchange between Luxembourg and the UAE.
The collaboration will ensure a collaborative effort to develop innovative solutions to future challenges in key sectors. Luxembourg is the sixth country to join the initiative.
DFF launched the ‘Country in Residence’ program in February 2019, a first-of-its-kind initiative to promote global collaborations and allow partner countries to communicate directly with UAE government and private entities, entrepreneurs and investment delegations. Upon its launch, Estonia, South Korea, New Zealand and Latvia joined the Program during their participation at the World Government Summit in February, while France joined in April 2019.
The signing drew the attendance of Etienne Schneider, Deputy Prime Minister and Minister of the Economy in Luxembourg, Mario Grotz, Chairman of the Board of Directors of the Luxembourg National Agency for Innovation and Research (Luxinnovation), and HE. Khalfan Belhoul, CEO of Dubai Future Foundation.
Commenting on the signing, HE. Khalfan Belhoul said: “More than ever, it is important to create bilateral ties to foster a diversified economy and elevate the UAE’s position as an enabler of strategic partnerships. We are confident that with our collaboration with Luxembourg, both ecosystems will bring about new knowledge and experiences that will benefit both countries.”
He continued: “Dubai has always forged the way when it comes to launching innovative models of government and private sector collaborations. Through our relationships, we want to make the UAE an innovation hub and encourage countries to contribute and expand at a global level.”
From his side, Etienne Schneider said: “Our two countries have a great deal in common: over the last years, both UAE and Luxembourg moved towards high technology-intensive companies and focused on a shift to a knowledge-based service company. The support of startups is an essential driver for this economic development and diversification through innovation The MoU is enhancing the mutual understanding of the start-up ecosystem of our two countries. Given the many interesting programs the UAE offer to startups, we are seeking to formalize our cooperation and join forces for boosting emerging innovation that benefits to both Luxembourg and the UAE.”