Latest news with #sustainableeconomy
Khaleej Times
6 days ago
- Business
- Khaleej Times
Economy Middle East Summit 2025, gathers public, private sectors to drive sustainable growth
Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence has officially opened the Economy Middle East Summit 2025, which convened high-level public and private sector leaders to discuss collaborative solutions for sustainable economic transformation. The event was held at Abu Dhabi Global Market (ADGM) under the theme 'Bridging Sectors, Building Economic Growth', and brought together more than 1,500 participants, including policymakers, business leaders, global investors, and technology pioneers. In his opening address, Sheikh Nahayan welcomed delegates and emphasised the summit's timely focus on collaboration and future-readiness. He said: "It is a deep personal pleasure to join you at the second edition of the Economy Middle East Summit. We come together as governments, businesses, and stakeholders to share knowledge, forge partnerships, and imagine new possibilities for the future of our economies and our region." 'Today, we gather at a critical moment that demands clarity of vision, boldness of action, and depth of partnership. The global economic landscape is undergoing profound transformation — driven by shifts in trade, geopolitical realignments, technological revolutions, and societal expectations. These changes offer rare windows of opportunity,' he added. He affirmed the UAE's proactive approach under the leadership of President Sheikh Mohammed bin Zayed Al Nahyan, saying: 'We are fully committed to economic diversification, innovation, and global competitiveness. From smart infrastructure and AI to sustainable finance and forward-looking education, we are building the pillars of future growth.' Sheikh Nahayan went on to stress regional integration: 'Now is the time to transform our regional ties into corridors of collaboration and opportunity. We must harmonise digital trade regulations, invest in green infrastructure, nurture entrepreneurs, and align our innovation and education systems. By working together, we can ensure that the Middle East is not only resilient — but energised with new possibilities.' 'Bridging Sectors, Building Economic Growth' is not just a slogan — it is a mission. Let us invest boldly, collaborate openly, and build a sustainable, inclusive economic future for our region,' he concluded. Abdulla bin Touq Al Marri, UAE Minister of Economy, delivered the opening remarks and shared the UAE perspective on navigating the global economy. 'The global economic landscape in 2025 is marked by heightened uncertainty. The IMF's latest World Economic Outlook projects global growth at 2.8 per cent and this year at 3 per cent next year,' the minister said. Al Marri explained that the slower than usual growth is primarily due to escalating trade tensions and persistent policy uncertainty. He also mentioned the resurgence of protectionist policies, most notably the recent US tariff hikes, which have disrupted trade flows, eroded business confidence, and delayed investments. He added: 'Our approach is rooted in the belief that economic prosperity is achieved through cooperation, not isolation. By building bridges, we aim to create a more inclusive and sustainable global economy. Our Comprehensive Economic Partnership Agreements (CEPAs) with countries across Asia, Europe, and Africa reflect this commitment, expanding our market access, strengthening supply chains, and accelerating investment flows. These agreements have not only diversified our economic partnerships but have also bolstered our resilience against external shocks. As a result, we expect the impact of recent US tariffs on the UAE economy to remain limited.' Salem Al Darei, CEO of ADGM Authority said: 'As an official partner of the Economy Middle East Summit, we are pleased to have been part of this platform that brought together influential voices from across the region. The event not only provided an invaluable opportunity for industry experts and leaders to engage in meaningful discussions, but also an opportunity for the ecosystem to listen to and connect on matters that are important for fostering innovation and driving sustainable economic growth.' "ADGM remains committed to contributing towards a prosperous and sustainable economy by fostering innovation, enabling business growth, and strengthening collaboration between public and private sectors. Through strategic initiatives like these, ADGM continues to play a vital role in shaping the region's economic future," he added. A high-profile panel featuring Dr Mahmoud Mohieldin, the UN special envoy on Financing the 2030 Agenda; Rashed Al Blooshi, undersecretary of the Abu Dhabi Department of Economic Development; and Safaa El Tayeb El-Kogali, country director for the GCC, World Bank, discussed the world's economic landscape, highlighting key issues that affect global trade, noting that the global economy's order which has been in place for decades, is now changing. The summit featured an in-depth analysis of the UAE's investment ecosystem, with experts from Visa, the Abu Dhabi Investment Office (ADIO) and the Multiply Group discussing trade and investment opportunities across key sectors. The panel shed light on the growing adoption of e-commerce and mobile commerce in a rapidly evolving digital landscape. A related panel on the financial services sector featured speakers from Wio Bank, Finstreet and the Financial Services Regulatory Authority of ADGM who explored the forces reshaping the industry, from digital innovation and regulatory developments to shifting customer expectations and regional growth. Technology continues to be a major conduit for enabling smart cities to thrive and enhancing living standards across the region, but also in transforming the mobility of people and goods as well as in transitioning to a greener and sustainable economy. Major stakeholders and thought leaders in this field – from e& and Mercedes-Benz to Siemens and Mubadala – shared optimism on the region's path to technological adoption and innovation. The experts also examined innovative approaches to decarbonising power systems, enhancing water and energy efficiency, and building infrastructure that supports long-term environmental and economic goals. Joe Chidiac, publisher of JC Media Group and organisers of the summit, said: 'As we venture into today's journey of dialogue and discovery, I challenge each one of you to embrace the spirit of innovation that has been the hallmark of the UAE and its capital, Abu Dhabi. The partnerships formed here, the ideas exchanged, and the commitments made will ripple beyond these walls to shape economies, empower communities, and create prosperity for generations to come. Together, let us bridge sectors and build not just growth, but a legacy of sustainable economic excellence.'
Malay Mail
27-05-2025
- Business
- Malay Mail
Hong Kong at Maritime Crossroads: New Studies Reveal Unprecedented Opportunity for Kickstarting the Blue Economy
Global shipping reforms are creating openings for blue finance leadership are creating openings for blue finance leadership Port redevelopments can integrate ecological and economic value can integrate ecological and economic value Marine ecosystems, long undervalued, are essential to regional prosperity and resilience HONG KONG SAR - Media OutReach Newswire – 27 May 2025 -In a rare convergence of economic and environmental expertise, three landmark studies released today by ADM Capital Foundation, HKUST and WWF-Hong Kong,presenting a transformative vision—Hong Kong can reinvent itself as Asia's premier blue economy reports— Port 1.0 to Port 2.0 (HKUST), Blue Finance for a Blue Economy (ADMCF), and Valuing the Invaluable Blue (WWF-Hong Kong)—all agree that the city has a unique opportunity in this moment, wherein:Global shipping reforms – IMOs net zero emission and carbon pricing mandate will force fleet upgrades, fuel transitions and new financial risks. In parallel, the UN has announced an ambitious biodiversity framework to be achieved by 2030. Hong Kong, itself, is striving to re-assert itself as a maritime powerhouse. This alignment, the authors propose, creates an unprecedented opportunity to transform the city into Asia's sustainable blue economy leader. At the heart of this transformation lies 'Port 2.0'– a visionary reimagining of Hong Kong's waters as a multifunctional interface that connects sea, land, city, technology and people, and serve as platforms for innovation, environmental stewardship and civic life." said Christine Loh, Chief Development Strategist, Institute for the Environment at HKUST and author of the paper "From Port 1.0 to Port 2.0: Hong Kong's Next Leap to Evolving a Blue Economy Vision".Hong Kong's status as the world's third-largest capital hub gives it unmatched potential to pioneer blue finance. As ADMCF'sreport highlights, instruments such as blue bonds can mobilise capital to facilitate port decarbonisation, sustainable aquaculture and marine eco-tourism—transforming the city into Asia's premier blue economy hub, aligning marine protection with economic prosperity. In 2023 there was a surge in blue bonds followed by continued growth in 2024, and Asia was the largest issuing region—led by China." said Kate Martin, the report's lead author and sustainable finance consultant with untapped potential aligns with the groundbreaking research in. The WWF-commissioned study by the Chinese Academy of Sciences has, for the first time, quantified the staggering monetary value of the Greater Bay Area's coastal ecosystems—revealing a Gross Ecosystem Product (GEP) worth RMB 4.9 trillion, equivalent to over 35% of the GBA's GDP, with 73% contributed by marine ecosystems.," said Lydia Pang, Head of Oceans Conservation at WWF-Hong Kong. "" she said. "The authors' combined focus on a blue economy vision integrates port development with marine conservation, biodiversity, climate resilience, recreation and the responsible use of ocean resources. It builds on China's decades of marine policy leadership, where comprehensive frameworks - from ocean GEP systems to blue finance instruments - have laid the foundation for sustainable maritime development."The window to developing a sustainable blue economy and to establish ourselves as the global leader in sustainable maritime commerce is open now, but won't remain so indefinitely." Said Sophie le Clue, CEO at ADMCF. "The question isn't whether we can seize this opportunity, but whether we will."Hashtag: #ADMCapitalFoundation The issuer is solely responsible for the content of this announcement.
Al Bawaba
22-05-2025
- Business
- Al Bawaba
ADNOC Distribution Champions UAE-made Products at ADNOC Oasis Stores
ADNOC Distribution, the UAE's largest mobility and convenience retailer, joined the Ministry of Industry and Advanced Technology's (MoIAT) Muntajat Watan'na initiative at this week's Make It In the Emirates exhibition (MIITE), held at the ADNEC Centre in Abu Dhabi. Through this program, ADNOC Distribution is showcasing the quality and innovation of UAE products, with select locally-made items featured prominently in ADNOC Oasis stores across the country until the end of the year. ADNOC Distribution also announced its collaboration with the UAE Federal Youth Authority (FYA) to highlight Emirati-owned SMEs through its Youth Corner initiative, featuring brands such as Emirates Beekeepers, Banna Brothers, LIWA Hot Sauce and NUWA. Products from these home-grown brands will be available for sale as part of a three-month pilot at select UAE locations. Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: 'By championing local brands and products, and forging strong partnerships with homegrown suppliers, ADNOC Distribution is helping to build resilient supply chains, empower Emirati entrepreneurs and support the UAE's vision for a more self-reliant, sustainable economy." ADNOC Distribution operated a pop-up ADNOC Oasis convenience store this week at MIITE, which, for the first time, featured 100% UAE-made products for sale. The unique store showcased locally-roasted coffee, food, and specialty beverages, underscoring the company's commitment to supporting the growth of the UAE's food industry. The pop-up store reflects ADNOC Distribution's broader strategy to prioritize UAE-made products across its convenience retail network. ADNOC Distribution also announced a new agreement with Al Ain Farms Group to supply dairy ingredients for ADNOC Oasis coffee, beverages and quick-service food. These initiatives underscore ADNOC Distribution's continued commitment to elevating the UAE's industrial capabilities, empowering local talent, and promoting homegrown businesses. The company remains focused on strengthening the UAE's position as a global hub for innovation and manufacturing excellence, both through ADNOC Oasis and through its other product lines, such as the ADNOC Voyager lubricant line, which is proudly made in the UAE and exported to 47 markets worldwide. ADNOC Distribution also fosters partnerships with both established and emerging UAE brands, including its recently announced strategic partnership with noon, the UAE's leading homegrown digital delivery service.
Zawya
20-05-2025
- Business
- Zawya
DEWA discusses clean energy co-operation with German companies
Dubai, UAE: As part of its ongoing efforts to enhance the UAE's leadership in clean energy, HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), welcomed HE Sybille Pfaff, Consul General of the Federal Republic of Germany in Dubai. She led a high-level German delegation representing prominent international companies and academic institutions specialising in renewable energy and green hydrogen. The delegation was part of the Energy Export Initiative launched by the German Federal Ministry for Economic Affairs and Climate Action. The meeting was attended by Waleed bin Salman, Executive Vice President of Business Development and Excellence, and Marwan Bin Haidar, Executive Vice President of Innovation and the Future at DEWA. Al Tayer welcomed the delegation and praised the collaboration with the German side, which reinforces the UAE's position as a global hub for clean energy technologies. He affirmed DEWA's commitment to its pioneering role in adopting future technologies. The two sides discussed opportunities to strengthen strategic partnerships, particularly in the production and storage of green hydrogen, and exchange best practices and technical expertise, including field visits to the Mohammed bin Rashid Al Maktoum Solar Park and other DEWA facilities. The meeting discussed co-operation in clean energy in line with the UAE's commitment to achieve net zero by 2050, supporting its strategy towards a sustainable green economy. The German delegation included representatives from major companies such as FEV Group, a leading developer of energy systems and provider of technical consultancy services; MAN Energy Solutions, a specialist in hydrogen and energy storage solutions; Hexagon Purus, which focuses on safe and efficient hydrogen storage technologies; and MoveTech, which develops innovative solutions for sustainable mobility. Representatives from the German Emirati Joint Council for Industry & Commerce also attended the meeting. During the meeting, Al Tayer showcased DEWA's ambitious initiatives and innovative development projects that support the vision of the wise leadership to enhance sustainability and accelerate the transition to a green economy. These efforts focus on diversifying energy production sources and increasing the share of renewable and clean energy in Dubai's energy mix. This aligns with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aim to provide 100% of the emirate's energy production capacity from clean sources by 2050. Al Tayer also highlighted projects at the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, with a planned production capacity of 7,260MW by 2030, which will raise the share of clean energy in Dubai to 34%. It is undergoing structured expansion, having successfully implemented several phases using photovoltaic (PV) and concentrated solar power (CSP) technologies. Its current capacity has reached 3,760MW, accounting for 21% of Dubai's total energy mix. Al Tayer further discussed Phase 6, scheduled for completion in 2026, and Phase 7, which is currently at the tender stage and expected to commence in 2027. The 1,800MW sixth phase will use the latest solar PV bifacial technologies with single-axis tracking to maximise energy production. The seventh phase will have a capacity of 1,600MW and a 1,000MW battery storage system providing 6,000 megawatt-hours, making it one of the world's largest solar-plus-storage projects.
