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“Economy”: “Investopia” outlines the future of foreign investment

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"Economy": "Investopia" outlines the future of foreign investment

Mustafa Abdul Azim (Sharjah)

At its inaugural edition of the Investobia Investment Summit hosted by the United Arab Emirates on March 28, the Ministry of Economy confirmed that it was working to create a new roadmap for future FDI in the United Arab Emirates and the world. For the purposes of the Fifty Plans, the country needs to upgrade its plans to attract $ 550 billion in foreign investment by 2030.
His Excellency the Minister of Economy Abdullah bin Dukh Al Marri has revealed strong positive indicators of the number of foreign direct investment inflows to the United Arab Emirates in 2021, which is higher than the record number recorded in 2020, at about $ 20 billion. Efforts by the State to promote and consolidate its investment competitiveness The United Arab Emirates is ranked 15th in the world and the most attractive country to invest in the region.
He told a news conference yesterday that the national economy had been successful in cooperating and enriching the discussions of the summit following the signing of the Memorandum of Understanding between the Investobia Investment Summit and the Sharjah Foreign Direct Investment Office (Investment in Sharjah). The flexibility to overcome these challenges and the 33 Initiatives program to address the challenges posed by the Covit-19 epidemic that has plagued global economies have played a key role in achieving credible and optimistic results in most indicators of the economic and business environment. The nation that affirms the conscious and proactive vision of our brilliant leadership that was instrumental in shaping this flexible and integrated program and identifying its initiatives, today we see its successful benefits in the national economy and the state of the country and its competitiveness. A consistent target for business, investment, talent and pioneering projects regionally and globally. The second phase is almost complete with the implementation of the 33 Flexible Initiatives package of the Economic Recovery and Development Plan, which is being implemented in three phases, indicating that preparations are underway to launch the third phase. The success of Phase II, after the success of providing integrated support to the national economy and sustaining long-term growth, has focused on implementing rapid economic recovery through initiatives aimed at enhancing the knowledge and innovation of its initiatives, improving technology, research and role. Growth, and digital transformation in the economy, keeping pace with future trends and new economic sectors, and attracting quality investments that will lead to transition towards a new, more flexible and sustainable economic model.
Flexibility in dealing with variables
He said the UAE economy was highly flexible and agile in dealing with economic changes around the world, and had the exceptional ability to formulate and improve policies, regulations and laws in response to these changes, thus contributing to integration. Country position as preferred destination for investors, companies and talent.
He pointed out the importance of comprehensive economic partnership agreements within fifty projects, the first of which was signed with India, pointing out its role in strengthening the economic position of the country and doubling the national economy from the current 1.4 trillion dirhams to 3 trillion dirhams. 2030 indicates that preparations are underway to sign agreements with other countries, especially Turkey, Israel and Indonesia, in addition to other countries on the list of 8 countries.

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Memorandum of Understanding
The signing of the memorandum was witnessed by the Minister of Economy, His Excellency Abdullah bin Dukh Al Marri and the Chief Executive Officer of the Sharjah Investment and Development Authority (Shrook) Marwan bin Jassim Al Sarkal. Mohammed Zuma al-Musharrak, Minister of Economy and Managing Director of the Office of “Investment in Sharjah”. .
Abdullah al-Saleh said the Investobia platform works to integrate all national investment opportunities and development projects from the seven emirates, pointing out that the Memorandum of Understanding with the Sharjah Investment and Development Authority translates into the Sixth Policy of the Fifty Principles. The United Arab Emirates is an economic destination. A tourist site, an industrial site, an investment site, a cultural site. Marwan al-Cherkel hoped that the Investobia Summit would contribute to a qualitative shift in the foreign direct investment map in the UAE and enhance its investment attractiveness. Mohammed Zuma al-Musharraf said the UAE was packed with benefits, incentives and various investment opportunities in all sectors. Friendly environment for foreign and local investment and entrepreneurship, projects and emerging companies in the region. Established an advanced model for comprehensive development in its economic and social dimensions.

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Mohammed bin Rashid: UAE’s sustainability and climate change efforts are constant in our comprehensive development journey

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Mohammed bin Rashid: UAE’s sustainability and climate change efforts are constant in our comprehensive development journey

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired the Cabinet meeting held in conjunction with the COP28 conference at Dubai’s Expo City.
In a blog post on the “X” site, His Highness said: At the beginning of the “Cabinet Meeting”, we reviewed the results of the state’s national efforts in the field of environment, including more than 120 decisions on sustainability, climate change, The development of our natural resources published by the Council over the last five years… and we launched more than 60 new decisions in 2023 alone, creating a coherent set of policies, legislation, strategies and initiatives. Efforts to participate with the world in addressing the effects of climate change and its file.
His Highness added: National strategies and policies in the field of environment and climate change have yielded results, as the country ranks second in the world in energy transition, in the Global Green Future Index 2023 “GFI”, and the sixth in the world per capita solar energy consumption rate, and it is worth 50 billion dollars. It has invested over .70 billion in clean energy projects in countries, pledging to invest an additional $50 billion in the sector over the next decade.
His Highness continued: The UAE continues to be active and proactive in the field of sustainability and climate change, and our efforts in this field are parallel to those of economic development, and are an essential and sustainable component of our comprehensive and continuous development. Process, God willing.

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5 Top Priorities to Combat Climate Change in Africa

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5 Top Priorities to Combat Climate Change in Africa

African civil society has identified five key priorities for combating climate change: adaptation, losses and damages, food and land use systems, and forest conservation and restoration.

This was announced by UNANDA Third World Executive Secretary Chekov Sir during an event held on the sidelines of the United Nations Climate Conference “COP28” in Dubai.

The “Anda Third World” organization represents a group of African non-governmental organizations, and these organizations met within the framework of a common platform, which was launched during the “COP”, an alliance of the African Development Bank Group and civil society. Climate and Energy.

African Development Bank president Akinwumi Adesina said: “The continent must benefit from its natural wealth. African economies should not be measured by their GDP, while Africa’s wealth should be assessed by its natural capital.”

“The continent’s vast mineral resources, forests and renewable energy must play a part in the balance,” he added, pointing out that the Congo Basin is the world’s largest carbon reserve, but is not taken into account in the overall assessment. Domestic production of countries in the region.

The coalition supports calls by African leaders to transfer special drawing rights on climate finance to Africa, including the African Development Bank.

The coalition calls on the international community, governments and development partners to comprehensively implement best practices, innovations and technologies and engage farmers and local communities, especially women and youth, in an approach that integrates science and traditional knowledge without harming biodiversity. or compromising community resilience.

He called on parties to ensure that adaptation and resilience are at the heart of African economies vulnerable to climate change.

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The Bank’s Vice President, Agriculture, Human and Social Development, Beth Dunford, confirmed during a discussion with civil society that the alliance is “very important” for Africa, noting that the Bank allocates 64% of its funding to adapt to climate change. continent, and it has now opened a window for climate action aimed at providing specific resources and technical assistance to least developed countries on the continent.

For his part, Alliance President Augustine Njamanshi praised the relationship between development finance institutions, civil society and the private sector in combating climate change in Africa.

“Doubling adaptation financing will not be enough for the continent because governments have already spent a lot of money,” he said, adding that civil society and the private sector, especially banks, must work together for the continent’s benefit.

In turn, Ecotrades Fund Executive Director Pauline Nantungo Kalunda said, “Civil society and the private sector’s collaborative work has enabled 15,000 smallholder farmers to plant trees to increase carbon storage,” calling for the removal of barriers. Prevent communities from accessing climate finance.

Mithika Mwenda, President of the Pan-African Climate Justice Alliance, a strong network of over 1,000 African climate organizations, emphasized the catalytic role of civil society and praised the partnership with the Bank.

“Government, the private sector and civil society are forming a ‘parallel’ in the fight against climate change in this coastal country,” said Roger Barrow, Burkina Faso’s environment minister.

• The African Development Bank allocates 64% of its financing to climate change on the continent.

5 Priorities:

– adaptation.

– Losses.

– Damages.

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– Food and land use systems.

– Conservation and restoration of forests.

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The UAE has long-term strategies for environmental sustainability

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The UAE has long-term strategies for environmental sustainability

According to a study conducted by the Regional Center for Strategic Analyzes in Abu Dhabi, sustainability strategies and tackling climate change are at the top of the national action agenda in the UAE. The UAE’s contributions and initiatives during COP 28 gained greater regional and international momentum, support for achieving a better harmonized formula for environmental protection and sustainability, and international pledges to allocate hundreds of billions of dollars to finance climate and sustainable projects.
Interregional said the UAE is making progress in strengthening its environmental leadership by investing tens of billions of dollars and providing legislation, regulatory frameworks, initiatives and policies to address climate change. Participation in dozens of contracts and initiatives around the world.
In this context, Interregional released the “UAE Environmental Achievement Index 2023” to monitor and track the performance of the country’s environmental initiatives in the field of environment and climate, measuring and monitoring 32 sub-indicators since its inception. “UAE Vision 2021” in 2010 to 2022. He also gave predictions till the year 2030.
The Environmental Performance Index is the arithmetic mean of four sub-indicators, namely: climate change, biodiversity, maintenance of a healthy and clean environment and environmental awareness and behaviour, as per the guidelines for developing composite indicators issued by the Organization for Economic Co-operation and Development (OECD).
The center emphasized that the UAE’s approach to climate change has become a priority for government action, in an effort to be “zero climate neutral” and invest in green resources. In this aspect. He explained that there are many motives and reasons behind the UAE’s high priority of addressing the phenomenon of climate change. This comes in the backdrop of the state’s keenness to achieve its strategic plans on climate change. Among the key concepts that have made climate change a government priority are the catastrophic effects worldwide, in particular: droughts and floods, inundation of cities, waves of displacement, damage to agriculture and infrastructure, and degradation. Global food security crises.
The UAE has adopted a comprehensive approach to addressing the climate change crisis, seeking to achieve environmental sustainability through an integrated legislative and regulatory framework, in coordination and cooperation with the international community in this regard. Approach: Localize clean energy, adopt peaceful nuclear energy and support climate legislation and knowledge frameworks, and coordinate with the international and regional community to support international efforts to address climate change. To achieve climate neutrality by 2050, the UAE has won the trust of the international community to host COP28 from here.

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