Abu Dhabi - The development of human capital and the proper utilisation of such skills is core to the establishment of successful and sustainable economies and societies.
This is according to His Excellency Nasser bin Thani Juma Al Hamli, Cabinet member and Minister of Human Resources and Emiratisation, who spoke on the opening day of the second Aqdar World Summit in Abu Dhabi in the United Arab Emirates.
The summit is an international platform that aims to develop sustainable societies, empower individuals, and support important initiatives and awareness programmes that benefit communities across the globe.
During a session entitled Human Development for Economic Growth, Al Hamli said the United Arab Emirates had been very lucky and constituted an excellent case study which it could share with the rest of the world.
"We utilised our human capital and created a sustainable economy."
He said following the vision and example of UAE founding father, the late Sheikh Zayed bin Sultan Al Nahyan, the country had focused and invested in education and skills development and with "these abilities garnered by a nation people, we can achieve miracles".
He said the UAE's continued success and growth was based on a simple equation, that of investing in people, in their education and skills development, and then effectively utilising those skills which results in sustainable development.
"The UAE Vision 2021 seeks to harness the full potential of the national human capital to achieve a competitive economy," Al Hamli said.
He added that with the increasing influence and disruption of the Fourth Industrial Revolution, artificial intelligence and block-chain technology amongst others, it was essential for labour forces to adapt to rapid changes.
He cited the UAE's Vision 2021, its national innovation strategy and space programme as key to ensuring its citizens and workforce was equipped to deal with future demands.
"Three hundred and seventy-eight thousand UAE citizens will enter the labour market in the next 15 years," he concluded.
"The public sector is saturated for Emiratis, so we have to start economic opportunities in the private sector for our young people."
The Aqdar Summit calls for "Nourishing Minds, Flourishing Nations" and the theme this year is the "Role of Human Empowerment in Developing Stable Societies: Sustainable Development".
The summit, at the Abu Dhabi National Exhibition Centre, is held under the patronage of HH Sheikh Saif bin Zayed Al Nahyan, Prime Minister and Minister of the Interior of the UAE.
The summit brings together leaders and experts from various fields to discuss issues around sustainable development and empowerment.
African News Agency (ANA)