The government has done much to encourage the development of the green economy by providing direct and indirect funding for innovation, developing and upgrading its legal and regulatory frameworks and enhancing the educational system, says Dr Florence Eid-Oakden, the British chief economist of Arabia Monitor.
“But some significant challenges remain to be addressed,” she adds.
“When it comes to funding, there are opportunities to expand the government’s involvement in equity funding mechanisms. Although venture capital is growing in the UAE, it is still ten times smaller than in the US, as a percentage of GDP.”
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