A competition to identify the world's best teacher and award a $1 million prize to the winner will be launched in Dubai next year for the first time.

The nominees for the world's best teacher will be announced in Dubai next year - Photo BBC

The Varkey Gems Foundation and the Vice President of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, have announced the selection of the world's best teacher.

However, details of the competition and the list of nominees will be announced at the Global Education and Skills Forum, to be held in Dubai in March 2014.

There will be a national selection process followed by an international judging process. The judging panel will include former world leaders, prominent members of the community, education experts and students.

The World's Best Teacher Award is sponsored by the Varkey Germs Foundation, to recognise the importance of the teaching profession in the same way that the Nobel Prize recognises talent in other fields.

"We want to honor teachers as stars and promote the quality of education and highlight the great influence teachers have on our lives," said Sunny Varkey, founder of the charity.

Sheikh Al Maktoum said: "Supporting education is supporting human progress and honoring teachers is honoring the real agents of social change."

Former US President Bill Clinton is the honorary chairman of this charity.

According to Vietnamnet