UAE and World Economic Forum Launch Global Regulatory Innovation Platform at Davos
Davos, The Gulf Observer: In a significant step towards fostering global legislative innovation, the Government of the United Arab Emirates (UAE) and the World Economic Forum (WEF) announced the signing of a Memorandum of Understanding (MoU) to establish the Global Regulatory Innovation Platform (GRIP) during the 55th Annual Meeting of the World Economic Forum in Davos, Switzerland.
The launch of GRIP aims to explore and design human-centered legislative frameworks to serve communities amidst rapid technological and digital advancements. The platform will create an environment conducive to regulatory innovation, providing stakeholders with advanced tools to assess and refine legislative frameworks for the future. Additionally, it seeks to foster international collaboration on flexible governance models that can address emerging global challenges and opportunities.
The signing ceremony was attended by prominent figures, including H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority; Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum; and Maryam bint Ahmed Al Hammadi, Minister of State and Secretary-General of the UAE Cabinet. The MoU was signed by Al Hammadi on behalf of the UAE and Alois Zwinggi, Managing Director of the WEF.
In her remarks, Al Hammadi emphasized that the partnership between the UAE and the WEF aligns with the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Vice President, Prime Minister, and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. “This initiative reinforces the UAE’s role as a global hub for international cooperation and supports global efforts to achieve sustainable development,” she said.
She further highlighted the UAE’s commitment to legislative innovation, which has led to the modernization of over 80% of its national legislation, a testament to the country’s adaptability and progressive approach. Al Hammadi also outlined the key objectives of GRIP, including the development of the Future-Readiness Index for Legislation, the publication of a Global Guide for Regulatory Innovation, and the creation of a global network of experts, policymakers, and legislators.
The UAE’s role in the creation of GRIP will further solidify its position as a global hub for international organizations and businesses seeking a flexible regulatory environment. It also positions the UAE as a knowledge center for sharing expertise in legislative developments, ultimately fostering stability, prosperity, and well-being for communities around the world.
