The United Arab Emirates (UAE) remains firmly committed to achieving sustainable economic growth while diversifying its economic landscape, according to Dr. Thani Al Zeyoudi, the nation's Minister of State for Foreign Trade.
Dr. Al Zeyoudi delivered these remarks during his address at the recent AIM Congress, emphasizing the UAE's proactive approach in a world experiencing rapid change and the emergence of new economic challenges and opportunities.
"We, in the UAE, are resolutely pursuing our ambitions for economic diversification alongside digital transformation, " Dr. Al Zeyoudi stated. He elaborated on the UAE's vision of transforming into a knowledge and innovation-driven economy, underpinned by a commitment to sustainable development.
This commitment to sustainability is manifested in the UAE's significant investments in renewable energy sources. Dr. Al Zeyoudi highlighted the nation's pioneering role, being among the first countries to pledge achieving net-zero emissions by 2050. The UAE's dedication is further evidenced by substantial financial commitments, exceeding $40 billion invested in clean energy over the past fifteen years, with plans to allocate an additional $160 billion towards clean and renewable energy in the coming decades.
The focus on sustainability extends beyond just energy. Earlier this year, the UAE announced ambitious plans to triple its capacity for generating renewable energy and dedicate up to $54 billion towards this goal over the next seven years.
Dr. Al Zeyoudi underscored the significance of collaboration in achieving the UAE's economic and sustainability objectives. He emphasized the importance of forging strong partnerships with global leaders and decision-makers. These partnerships, he explained, are instrumental in leveraging international trade, attracting foreign investments, and fostering international cooperation. Through these efforts, the UAE aspires to secure a prosperous and sustainable economic future, not just for itself but for its global partners as well.
The AIM Congress provided a platform for global leaders and stakeholders to convene and address critical issues related to investment in sustainable development. The UAE's hosting of the event served as a testament to its position as a frontrunner in leading global conversations on these crucial matters.