The document summarizes the key stages of development in the UAE. It discusses how the UAE initially relied on pearl diving and nomadic agriculture before discovering oil in 1958, which launched the second stage of development and massive infrastructure investments. Now in its newest stage, the UAE is focused on becoming a knowledge-based, innovative economy as outlined in initiatives like the 2021 National Agenda and Centennial 2071 project, which aim to transition the country to be powered by 50% clean energy and the best country in the world, respectively, by focusing on education, technology, and sustainability.
The document summarizes the key stages of development in the UAE. It discusses how the UAE initially relied on pearl diving and nomadic agriculture before discovering oil in 1958, which launched the second stage of development and massive infrastructure investments. Now in its newest stage, the UAE is focused on becoming a knowledge-based, innovative economy as outlined in initiatives like the 2021 National Agenda and Centennial 2071 project, which aim to transition the country to be powered by 50% clean energy and the best country in the world, respectively, by focusing on education, technology, and sustainability.
The document summarizes the key stages of development in the UAE. It discusses how the UAE initially relied on pearl diving and nomadic agriculture before discovering oil in 1958, which launched the second stage of development and massive infrastructure investments. Now in its newest stage, the UAE is focused on becoming a knowledge-based, innovative economy as outlined in initiatives like the 2021 National Agenda and Centennial 2071 project, which aim to transition the country to be powered by 50% clean energy and the best country in the world, respectively, by focusing on education, technology, and sustainability.
The document summarizes the key stages of development in the UAE. It discusses how the UAE initially relied on pearl diving and nomadic agriculture before discovering oil in 1958, which launched the second stage of development and massive infrastructure investments. Now in its newest stage, the UAE is focused on becoming a knowledge-based, innovative economy as outlined in initiatives like the 2021 National Agenda and Centennial 2071 project, which aim to transition the country to be powered by 50% clean energy and the best country in the world, respectively, by focusing on education, technology, and sustainability.
I) Key vocabulary: GPD-Gross Domestic Product SDG’s-Sustainable Development Goals (17 SDG’s) The knowledge economy - 2021 National Agenda focuses on the UAE becoming the economic, touristic and commercial capital for more than two billion people by transitioning to a knowledge-based economy, promoting innovation and research and development, strengthening the regulatory framework for key sectors, and encouraging high value-adding sectors. National Agenda - The UAE National Agenda includes a set of national indicators in the sectors of education, healthcare, economy, police and security, justice, society, housing, infrastructure and government services. Centennial project - UAE Centennial 2071 is a long-term, full-vision plan that extends for 5 decades after 2021. It is based on four aspects: Education, economy, government development, and community cohesion. The goal is for the UAE to be the best country in the world by 2071. The vision’s objectives also include the development of education, with a focus on advanced technology and engineering, and instilling an Emirati moral values system in future generations. Future Energy- In 2017, the UAE launched ‘Energy Strategy 2050’, which is considered the first unified energy strategy in the country. The strategy aims to increase the contribution of clean energy in the total energy mix from 25 per cent to 50 per cent by 2050 and reduce carbon footprint of power generation by 70 percent, thus saving AED 700 billion by 2050. 4IR - Fourth Industrial revolution. UAE continues to strengthen its position as a leader in the fourth industrial revolution (4IR) and artificial intelligence (AI) sectors, anticipating future developments that contribute to the progress of society and the impact of technology on changing human lives for the better. II) Answer the following 1. The period of wealth in the UAE started with which industry? Ans. Pearl industry. 2. What was the main reason for decline of pearl industry in UAE? Ans. The Pearling industry declined because of the introduction of the Japanese cultured pearls. It also synchronized with world economic disorder followed by the outburst of the Second World War 3. The discovery of _____ in both desert and sea has created new manifestation of economy for the young country based on natural resources. Ans. Oil 4. Name the two major targets adopted by UAE for the next stage of development. Ans. 2030’s vision and the Centennial 2071 project. 5. In which year oil discovered in UAE? Ans. 1958 6. What approach has been adopted by UAE’s recent stage for development? Ans. Competitive Knowledge Economy 7. List out the different stages of development in UAE. The first stage of UAE economy was a simple subsistence economy based on pearl diving, fishing, nomadic agriculture and seafaring. Second stages of development marked by the Discovery of petroleum and natural gas in 1958. Third stage of development marked by the development of infrastructure and massive investments. The new stage of development UAE today is an advanced economy that is transitioning to knowledge based innovation economy. . **************************