Dubai introduces innovation fee to develop Museum of Future

A number of government agencies in Dubai will charge an innovation fee to help fund the development of the Museum of Future, state news agency WAM reported.

According to a decree issued by the UAE’s VP, PM and Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, a fee of Dhs10 will be charged by certain government institutions on each transaction.

The decree did not specify the date from which such fees will be levied or which government institutions will be charging the innovation fee.

Museum of Future- a project that was launched earlier this year- will produce futuristic inventions and support the UAE’s goals to be the most innovative country in the world.

Major sections of the museum will be built using 3D printing construction techniques and other bespoke technology.

Earlier this year, the government also announced that it will construct a fully functional 3D printed building in Dubai as part of the Museum of Future project.

The museum was among the many initiatives of the UAE government to further its goal of innovation.

The project will benefit large endowments to ensure its smooth running, the government said during the launch.

But the introduction of the innovation fee could also be the result of the budgetary pressures due to low oil prices in the region.

The UAE, which is one of the world’s top oil exporters, has undertaken a number of efforts including deregulating its fuel prices to ease the strain on its coffers due to low prices.

However, the country has pressed ahead with its innovation strategy in order to maintain its competitiveness and boost its diversification efforts.