MRTP was announced on 21 st May 2002 by the executive chairman of PCFC and the objective of the park is to provide a regional platform for the transfer and indigenisation of technology through the attraction of foreign technology.

It is also a platform for the commercialization of innovation. MRTP will be located south (Jebel Ali Free Zone). Mohammed Bin Rashid Technology Park has been created to provide the ideal environment for world class innovation to be translated into real world operation, enabling knowledge based enterprises to find ready markets for their developments, and giving visionary companies access to unique resource for enhancing their future business. The technology park nurtures this synergy by matching inventors with investors, by providing the infrastructure, management and vision vital to the successful development and implementation of emerging technologies. MRTP will be a world showcase for the concept, and a cornerstone of the UAE's ongoing growth and prosperity.

Activities in the MRTP: "Innovation, Research, laboratories, Training, Incubation, Engineering, Technology Transfer, Prototypes, Manufacturing".

Sectors in MRTP: "Desalination & Water Resources Management, Petrochemicals, Biotechnology, Pharmaceuticals, Materials".