Sustainable growth

Staff Reporter, Gulf Today

Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, said the UAE has an attractive and flexible business environment and a stable investment climate that ensure sustainable growth, supported by advanced legislation.

Such legislation are in line with the country’s aspirations for the next 50 years, as part of the “Projects of the 50” covering investment, foreign direct investment (FDI) and business practices, Sheikh Nahyan explained.

This has empowered the UAE to become an international hub for trade, investment and capital, he added.

Sheikh Nahyan made this statement while receiving Zaki Azmi, Chief Justice of the Dubai International Financial Centre Courts (DIFC Courts), who was accompanied by Omar Juma Al Muhairi, Director of the DIFC Courts, at Expo 2020 Dubai.

During the meeting, Sheikh Nahyan lauded the achievements of the DIFC Courts in solving financial disputes according to advanced procedures, underscoring its keenness to ensure the rights of companies and protect their capital.

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, delivered a keynote speech at the ABB Seminar on Innovation and Learning for Sustainable Solutions at the Swedish Pavilion at Expo 2020 Dubai.

Co-hosted by the Governments of Sweden and Switzerland and the Swedish-Swiss multinational corporation ABB, the high-level event drew the participation of King Carl XVI Gustaf of Sweden, along with regional officials and Swiss and Swedish government representatives.

These included Anna Hallberg, Sweden’s Minister for Foreign Trade and Nordic Affairs, Liselott Andersson, Ambassador of Sweden to the UAE, Massimo Baggi, Ambassador of Switzerland to the UAE and Bahrain, and Jan Thesleff, Commissioner-General at the Committee for Sweden’s Participation at Expo 2020 in Dubai.

Almheiri said, “From climate change and water scarcity to air pollution and waste management, every challenge can be transformed into an innovation-led opportunity that unlocks substantial socio-economic and environmental benefits.

However, to realise these benefits, we need to scale innovation ecosystems that involve multiple stakeholders at national, regional, and global levels. Because facing global challenges calls for global action and collaboration, sharing ideas and best practices, and basically learning from each other.”

She added, “We in the UAE believe in the instrumental role of innovation and technology in building a sustainable future. Our country ranks first regionally and 33rd out of 132 nations in the Global Innovation Index 2021.”

The Minister said, “We are using innovation to tackle every aspect of the climate crisis. One of the prime examples is the Agriculture Innovation Mission for Climate or AIM for Climate.

This global initiative, led by the UAE and the US, seeks to mobilise investments in agricultural innovation and R&D that are critical to mitigating climate change and feeding the world’s growing population. With 35 member countries and four billion US dollars’ worth of increased investments to date, AIM for Climate is the kind of bold move we need to leverage innovation on a global scale to achieve the Sustainable Development Goals.”

She noted that in the fight against climate change, developing and adopting emerging technologies to reduce emissions and increase energy efficiency is the decisive factor for success.

She said, “In our drive to reach net zero by 2050, we will harness the combined expertise of our academic institutions and major industrial players to create practical innovative solutions that lower the carbon footprint of every sector.”

Meanwhile, recently the “Sichuan Day” of the China Pavilion at EXPO 2020 Dubai was officially inaugurated. Sponsored by the Sichuan Provincial People’s Government of China, the event was successfully held simultaneously in Dubai, UAE, and Chengdu of Sichuan, China, both online and offline.

 The opening ceremony was attended and addressed by Mr. Zhang Shenfeng, Commissioner General of China Pavilion at Expo 2020 Dubai and Vice Chairman of CCPIT,  Li Yunze, Vice Governor of Sichuan Provincial People’s Government,  Ali Obaid Al Dhaheri, the UAE Ambassador to China,  Li Xuhang, Consul General of China in Dubai, Hamad Buamim, Chairman of World Chambers Federation and President of Dubai Chamber of Commerce and Industry, and Fahad Al Gergawi, CEO of Dubai Investment Development Agency (Dubai FDI).  

Also in attendance are officials from the Consulate General of Nepal, Republic of Korea and other countries in Sichuan, representatives of foreign business associations in China, heads of relevant government departments and business associations of the UAE, representatives of Sichuan and UAE enterprises and media Participated in this event in Chengdu and Dubai.

At the opening ceremony, an unveiling of the Sichuan Chamber of International Commerce Representative Office in the UAE was held, along with the signing ceremony of 3 Cooperation Agreements  between the Sichuan Chamber of International Commerce Middle East Market Professional Committee and Overseas Chinese Association in the UAE, Sichuan Chamber of International Commerce and Dubai Chamber of Commerce and Industry Representative Office in China, Huaheng Xintian Chengdu Industrial Co., Ltd. and UAE Bumur Commodities Co., Ltd.  

Furthermore, several side events such as city promotions for Chengdu and Meishan in Sichuan Province, Sichuan special cultural shows, live connection to China Conservation and Research Center for Giant Pandas, Sanxingdui Museum and other famous sites were held, which were all aimed at showing an open, inclusive, cooperative and innovative Sichuan from multiple perspectives.

Other relevant events including Sichuan-Chongqing Competitive Industries Exhibition, Sichuan Culture and Tourism Week, and “Children’s Yearning for Expo” Painting Exhibition was held at the same time. Through the assistance of technology, culture, economic and trade, with the Expo platform to display the image of Sichuan, this event tells the success story of Sichuan, highlight the charm of Sichuan, and create a card of the city, vividly showing the real, stereoscopic and comprehensive Sichuan to the world.

 Meanwhile, the world is now hailing the vision and courage demonstrated by the leadership of Dubai and the UAE at this special time facing all the challenges and turning the challenges as blessings. About 3 to 5 percent of people visiting Expo 2020 is expected revisiting Dubai or planning to make Dubai their residence post the Expo.

In 1851 the Crystal Palace was the centrepiece of London’s Great Exhibition – the first World Expo. It celebrated the man-made industrial wonders of a rapidly changing world.

Architecture, contents and a theme, ‘Industry of All Nations’, were combined to create a big idea of nations meeting nations in shared technological and commercial progress. In more recent years, participants in World Expos, including governments, international organisations and companies, have gathered to find solutions to universal challenges and to promote their achievements, products, ideas, innovations, their national brand, and their nations as destinations for tourism, trade and investment.

World Expos are held under the auspices of the Bureau International des Expositions (BIE), the intergovernmental organisation responsible for overseeing and regulating international exhibitions (‘Expos’) and for fostering their core values of Education, Innovation and Cooperation. Today, four types of Expos are organised under the BIE’s auspices: World Expos, Specialised Expos, Horticultural Expos and the Triennale di Milano.