In recognition of its innovative services to customers and strict commitment to quality standards, Huawei, the leading global ITC solutions provider, won the 1st Mohammed bin Rashid Al Maktoum Business Innovation Award, in the Services category.
During a glitzy ceremony that took place yesterday in Dubai’s Madinat Jumeirah, Mr. Wang Chengdong, CEO of Huawei Tech, UAE, received the award from H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, in the presence of a number of dignitaries, senior officials and representatives of the business community in Dubai.
The ceremony was organized by Dubai Chamber of Commerce and Industry under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
H.E. Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry and Chairman of the Steering Committee for the Mohammed Bin Rashid Al Maktoum Business Award, stressed the importance of the award in fostering a culture of innovation within business communities throughout the GCC. He explained that the comprehensive award programme enabled companies to measure their institutional performance against global best practices and identify areas where they need to improve. He congratulated Huawei on its achievements and contribution to innovation excellence in Dubai, and added that the company serves as an example for the rest of the business community.
Wang Chengdong expressed his delight at winning this prestigious award, describing it as an important catalyst to promote international corporate culture in the region.
He added that innovation is the cornerstone of Huawei’s success in providing a wide range of state-of-the-art products and services, which meet the needs of various customers worldwide. “Innovation enables us to sustain a firm foothold as a top-ranking brand in the market”, he said.
Chengdong pointed out that the company has benefited from the competitive business environment in Dubai and the UAE; the facilities and incentives offered to businesses to support their expansion to regional and international markets.
“Huawei has consistently invested over 10% of its revenue in R&D every year. In 2016, approximately 80,000 employees were engaged in R&D, comprising 45% of our total workforce. Huawei’s R&D expenditures totaled USD 9.2 billion in 2015, accounting for 15.1% of the company’s total revenue. We have cumulatively spent more than USD139 billion on R&D over the past decade”, he explained.
Mohammed bin Rashid Al Maktoum Business Innovation Award was launched in 2015, as an initiative of the Ministry of Economy, in cooperation with Dubai Chamber of Commerce and Industry.
The unique initiative aims to highlight the role of innovation in stimulating the business environment, in line with the UAE vision 2021 National Agenda, which focuses on promoting innovation and transitioning to a knowledge-based economy.