(MENAFN - Emirates News Agency (WAM))
VIENNA, 20th March, 2017 (WAM) -- The Global Manufacturing and Industrialisation Summit, GMIS, and the Austrian Economic Chambers have signed a Memorandum of Understanding that will see the two organisations working together at a strategic level to promote the Fourth Industrial Revolution, known as 4IR, throughout the manufacturing and industrial sectors. The MoU highlights both parties' aims to create regulatory and policy landscapes that support innovation and entrepreneurship, which in turn boost economic growth and employment creation, through a programme of knowledge transfer and sharing of best practices.
The MoU was signed by Dr. Richard Schenz, Vice President of the Austrian Economic Chambers, and Badr Al-Olama, Chief Executive Officer, Strata Manufacturing, and Head of the Global Manufacturing and Industrialisation Summit Organising Committee The Austrian Economic Chambers represents more than 450,000 member companies and is committed to supporting forward-looking policies which benefit the economy, including reducing levels of bureaucracy and cutting red tape. As a partner of the Global Manufacturing and Industrialisation Summit, the Austrian Economic Chambers joins a global network of industry and trade bodies that are working together, through the summit, to address common themes and seize new opportunities for manufacturing and industry stemming from the Fourth Industrial Revolution and associated technologies, including the Industrial Inteet of Things, IIoT.
Dr. Schenz said, "As a representative body of business in Austria, it is the duty of the Austrian Economic Chambers to explore all opportunities and challenges that our members may face in the coming years. The Fourth Industrial Revolution is reshaping the way in which manufacturers and industries operate, and it is therefore in the best interests of everyone within these sectors to pursue avenues that will enable us to collectively explore these new technologies. As a platform for knowledge sharing and policy discussion, GMIS is a much-needed event to steer the future of global industry, and we are pleased to be part of this landmark summit."
The inaugural Global Manufacturing and Industrialisation Summit will be held at the Paris-Sorbonne Abu Dhabi, from March 27th to 30th. A joint initiative by the #UAE Ministry of #Economy and the United Nations Industrial Development Organisation, UNIDO, and is being co-hosted with the Abu Dhabi Department of Economic Development. The summit will be held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the #UAE Armed Forces. It is the world's first global gathering for the manufacturing community, bringing together 1,200 decision makers from governments, businesses, and civil society organisations to shape a vision for the future.