Sheikh Saud speaks during World Government Summit at Expo 2020 Dubai on Tuesday. WAM

In the presence of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and under the directives of His Highness Sheikh Saud Bin Rashid Al Mu'alla, Supreme Council Member and Ruler of Umm Al Quwain, Umm Al Quwain on Tuesday launched its Sustainable Blue Economy Strategy during the World Government Summit (WGS) 2022, held at Expo 2020 Dubai.

The Strategy lays the foundations for the future growth of Umm Al Quwain and its transformation into the "capital of the blue economy."

The strategy aims to enhance the emirate’s investment attractiveness while developing its natural, cultural and human wealth.

Sheikh Saud Bin Rashid Al Mualla said that the strategy is aligned with the UAE’s efforts to enhance sustainable development and ensure optimal use of resources.

He added, "The UAE places the highest priority on the wellbeing of its citizens by launching development plans, policies and strategies aimed at achieving a decent life for them and enabling them to actively participate in all development paths."

Sheikh Saud affirmed that the Sustainable Blue Economy Strategy 2031, provides opportunities for youth, entrepreneurs and investors in vital and promising sectors. He expressed Umm Al Quwain’s keenness to provide all the support necessary for promoting the growth and sustainability of investments, and achieving the goals of all partners in the economic system.

The launch of the strategy was attended by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council; Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group; Sheikh Mansoor Bin Mohammed Bin Rashid Al Maktoum; Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, and a number of ministers, senior officials and guests participating in WGS.

During a session held at the WGS2022 in Dubai, Sheikh Majid Bin Saud Bin Rashid Al Mualla, Chairman of the Umm Al Quwain Department of Tourism and Archaeology, explained that the Strategy adopts a sustainable framework for the economy of Umm Al Quwain, in which man and nature thrive together, and aims to triple the growth of its GDP by 2031.

Sheikh Majid said, "Through this Strategy, we are keen to keep pace with the best global models for the development of national economic strategies. The Sustainable Blue Economy Strategy sets clear economic development goals based on the strengths of the emirate."

He also highlighted the emirate’s unique situation of having the most diverse environmental resources in the coastal Arabian Gulf, which makes it an ideal place to create a global example of a successful blue economy.

Sheikh Majid said, "Our goal is to double the GDP by 2031 and for the blue economy to contribute 40 percent of that total. We aim to meet a net-zero emissions target by 2031, by which time a total of 20 percent of Umm Al Quwain will be dedicated to nature reserves. We have also created three carbon-neutral areas."

He further explained that the strategy also includes establishing the Umm Al Quwain Centre for Entrepreneurship and the Blue Economy that will deliver eight transformative projects across diverse industry and research areas. In addition, it focuses heavily on creating new environmental, cultural, and heritage tourism areas to boost the popularity of one of the UAE’s most diverse but relatively undiscovered regions.

As part of the Sustainable Blue Economy Strategy, the emirate also plans to expand its already strong mangrove cover threefold by 2031 to make a major contribution towards its net-zero target.

WAM