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Wed 5 Feb 2020 02:38 PM

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Dubai's Area 2071 adds Luxembourg to innovations initiative

Luxembourg has joined the Country in Residence Program in Area 2071, an initiative of Dubai Future Foundation

Dubai's Area 2071 adds Luxembourg to innovations 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.

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 the European country and the UAE.

The collaboration will ensure a collaborative effort to develop innovative solutions to future challenges in key sectors, a statement said.

It added that 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 while France joined in April.

Khalfan Belhoul, CEO of Dubai Future Foundation, 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.

“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.”

Etienne Schneider, Deputy Prime Minister and Minister of the Economy in Luxembourg said: “Our two countries have a great deal in common... 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.”