Dh300 million-Knowledge Village innaugurated in Dubai

Dubai, Oct. 18, 2003 (WAM) -- Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Chairman of the Board of Dubai, Technology, E-Commerce and Media Free Zone (TECOM) revealed that the cost of the infrastructure of the Knowledge Village inaugurated here today was around AED 300 Million. Sheikh Maktoum said that building the Knowledge Village was a vital step that complements the efforts of initiating a knowledge hub that contributes effectively in encouraging the growth of UAE and the region. He said that the Knowledge Village was expected to play a fundamental role in encouraging private investments in the sectors of education, training and research to meet the growing demand of the services of this sectors in the region. " The intensive studies we conducted demonstrated that the demand on the educational and training services in the region are estimated to mark a record in the coming years, not only as a result of the high growth of population, but also because of the growing interest of the private sector in these fields," he added. He pointed out that the Knowledge Village will be a center that will host educational, training and research establishments to provide exceptional services that would attract students, trainees and clients. "The establishments based at the Knowledge Village will benefit from their location within a knowledge cluster that hosts nearly 1400 companies in Dubai Internet City and Dubai Media City along side the advantage of working in a vibrant, dynamic environment," he said. "Besides education and training, Knowledge Village will play an important role in encouraging research and development centers, which is quite important when understanding the role of research in the progress and the prosperity of the establishments," he added. WAM/SA 20 25 CCCCQQE