Business Bureau, Gulf Today
Top officials at the signing ceremony in Abu Dhabi on Tuesday.
Tawazun Economic Council and the UAE’s flagship satellite services operator, Yahsat, have signed a Memorandum of Understanding (MoU) to establish a new company to develop critical in-country capabilities in relation to the development and manufacture of advanced satcom solutions within the UAE, with a focus on building intellectual property locally for increased national security and advanced technology development.
The MoU confirming the planned collaboration was signed during IDEX 2021 by Eisa Al Shamsi, Deputy General Manager of Yahsat Government Solutions, and Matar Al Romaithi, Chief Economic Development Officer for Tawazun, in the presence of Tareq Al Hosani, Chief Executive Officer of Tawazun, Musabbeh Al Kaabi, Chairman of Yahsat and Masood M. Sharif Mahmood, Chief Executive Officer and Board Member of Yahsat.
Under the MoU, the new company will develop technologies and produce products around three main streams: Aeronautical Satcom Technologies, Satellite Modem Technologies and Enablement of other Satcom Products and Technologies. It will leverage the significant knowledge and expertise establishment in the UAE and will be complemented by select international experts to build a global leader in this sector. The first seed project entails the development of a protected, multi-platform satellite modem for government and defense markets in the UAE and internationally.
Yahsat will play an integral role in ensuring that the new company’s products meet the requirements of its government customers with a differentiated and targeted product strategy, enabling the UAE Government and other local and international users to address key technology development. It will source key product development capabilities from leading solution providers and manufacturers to lay the foundation for local production lines and integrated value chain management.
“Yahsat and Tawazun are playing a key role in accelerating the advancement of the satellite communications sector in the UAE, this collaboration is further testament to our country’s position as a global pioneer across a number of high growth sectors. These partnerships are vital to the diversification of the UAE’s economy, and we are committed to supporting our UAE Investments’ portfolio companies as they contribute to our nation’s sustainable growth,” said Musabbeh Al Kaabi, Chairman of Yahsat.
CEO Tawazun, Tareq Abdulraheem Al Hosani said: “At Tawazun, we seek to reaffirm Abu Dhabi’s position as a leading regional hub of strategic technologies and manufacturing. We are excited about the long-term prospects of our collaboration with Yahsat. In less than a decade since it launched its first satellite, Yahsat has grown to be one of the world’s leading satellite enterprises, with an enviable track record of accomplishments that are a source of pride to all Emiratis. Our collaboration stands to gain tremendously from Yahsat’s expertise and connections, spurring innovation and technology development within the UAE.”
Ali Al Hashemi, Chief Executive Officer Designate of Yahsat added: “Yahsat has always served as a catalyst for the diversification of the UAE’s economy. We have invested heavily in nation-building through our longstanding partnership with the UAE Armed Forces and various other initiatives, driving growth and new opportunities. In keeping with the Abu Dhabi Economic Vision 2030, we now look forward to commencing homegrown production of advanced communication technologies so that the UAE can achieve its national objectives with greater autonomy. We are grateful to our country’s leadership and Tawazun for entrusting us with this opportunity to develop Emirati’s to serve the growing space sector.”
Meanwhile, EDGE, the UAE’s advanced technology group for defence and beyond, today signed a Memorandum of Understanding (MoU) with Lockheed Martin, the US-based global technology leader, to explore industrial participation opportunities across the UAE’s aerospace and defence industry.
Under the terms of the agreement, the leading advanced technology firms will enhance their longstanding strategic partnership by establishing joint working groups to identify and develop industrialisation and knowledge transfer programmes. Under review will be projects related to in-country capability-building, the creation of innovative and emerging technologies, and the continued expansion of human capital development initiatives.
Khalid Al Breiki, President - Mission Support, EDGE, and Raymond Piselli, Vice President of Finance, Contracts & Industrial Development, Lockheed Martin, signed the agreement at the International Defence Exhibition and Conference (idex 2021), which is underway at the Abu Dhabi National Exhibition Centre (ADNEC) from 21 to 25 February.
Khalid Al Breiki said: “At EDGE, we place a strong emphasis on joint collaboration, and are continuously seeking to build our capabilities to be able to offer the next generation of talent an environment to thrive, innovate and develop at the cutting-edge of technology. Signing this agreement represents a long-term strategic partnership for EDGE and Lockheed Martin and opens the door for both parties to pursue industrial and economic development across the UAE’s Aerospace & Defence sector.”