UAE is going to invested US$5 billion (Dh18.36bn) on technology. This has been informed by UAE’s Minister of Foreign Trade, Sheikha Lubna Al Qasimi.

He has informed that the country will have invested such a handful amount for the development of technology in the country by the end of the current year.

Moreover, the analysts have forecasted that the spending on these technical aspects may go up further. They have indicated that the spending in the sector may go up by 8 per cent to 9 per cent in the coming year.

The Minister of Foreign Trade of UAE, Sheikha Lubna has also added that the country has become the fastest-growing areas for ICT expenditure in all across the globe.

The minister was addressing at the annual meeting of the Global Alliance for ICT and Development (GAID). The basic purpose of Global Alliance for ICT and Development (GAID) is to promote the use of technology in development and in the field of reduction of poverty as well. This has been initiated by the United Nations.