Now Reading
UAE launches cultural development fund

UAE launches cultural development fund

A new index will track the contribution of the creative sector to the UAE’s economy

The UAE on Monday launched a new fund dedicated to cultural development and an index to measure the gross domestic product contribution of the creative industries.

The fund will be established and overseen by the Ministry of Culture and Knowledge Development with the objectives of providing financial resources to support cultural activities throughout the country, promoting the UAE’s cultural products at regional and global levels and encouraging support of cultural development plans in the private sector.

Its intended size was not disclosed.

The new contribution index for the creative industries will seek to measure the contribution of the cultural sector to economic development as part of the UAE’s wider efforts to become a knowledge economy.

“Our culture is the identity of our generations and the depth of our history and the message of the world we want to convey in more creative ways,” said UAE Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum.

He also emphasised the role of the Arabic language in the country’s cultural identity.

‘It is not possible to develop our knowledge, establish our identity and develop our culture if we move away from it [Arabic],” he said.

The Ministry of Culture and Knowledge Development will set the mechanisms and standards used for the index and identify the country’s desired cultural objectives.

The announcement of the index was made at a cultural retreat at Abu Dhabi’s newly-opened Louvre Museum, which included nine brainstorming sessions and workshops on issues related to creativity and innovation.

Read: UAE leaders, French President Macron open Louvre Abu Dhabi

These covered areas ranging from culture to national talent, Arabic language, identity, values, community cohesion, cultural diplomacy, international relations, science and technology, finance, cultural sustainability and the future of UAE arts, infrastructure and cultural facilities.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top