- HE Eng. Suhail Al Mazrouei, UAE Minister of Energy, and HE Dr Thani Al Zayoudi, UAE Minister of Climate Change and Environment, discuss the need to adopt sustainable practices for future prosperity
- Global Manufacturing and Industrialisation Summit held at the Paris-Sorbonne in Abu Dhabi from March 27-30, 2017
Abu Dhabi, UAE, March 30, 2017: Day one of the Global Manufacturing and Industrialisation Summit (GMIS), taking place at the Paris-Sorbonne in Abu Dhabi, saw a keynote interview session with HE Eng. Suhail Mohamed Faraj Al Mazrouei, UAE Minister of Energy, and HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment, discuss the relationship between economic growth and the environment.
The interview session, hosted by Simon Baptist, Global Chief Economist, EIU, The Economist, was titled Today Versus Tomorrow – Sustainable Strategies Today to Secure a Prosperous Tomorrow..
Setting the stage, Baptist explained how the economy and environment do not have to be in opposition with each other, even though the reality is that they often are unless appropriate policies and private sector actions are in place to ensure that they are not opposing.
HE Al Mazrouei said: “We will have almost 50 per cent totally green sources of power generation by 2050, which takes care of the environmental impact.” Referring to the UAE’s energy providers such as DEWA and ADDC, he added: “The best economical choice for those selling energy in the UAE was to go 50 per cent green. We don’t need to subsidise power generation any more, and I’m sure we don’t need to subsidise when it comes to industry. It was a surprise for us, but I think it’s achievable.
“We have a road map and our target is going to need a huge investment of around $192 billion over the next 30-32 years. It’s really a very exciting time for us to balance the equation and go from almost 98 per cent fossil fuel usage to 50 per cent renewables. We have one of the most advanced energy sectors in the world. However, while energy is important, we need to move towards those industries in which we can have a more competitive advantage, which we can excel in.”
Speaking in terms of what the UAE is doing to build an ecosystem to support industry and diversification, and on his vision for a more sustainable future for the nation, HE Al Zayoudi said: “Heavy industry is important, but small and medium businesses are equally so. The UAE has excellent infrastructure and mechanisms in place to provide the right direction for small and medium businesses, which is part of Beeatna, the green growth strategy announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum [Vice President and Prime Minister of the UAE, and Ruler of Dubai].
“Our economic sectors in the UAE are up to date with the latest technologies to support growth. There are three points I would recommend emerging nations to follow to create sustainable economies. One, investing in human capital is essential to building a sustainable economy. Two, the government has to ensure the right policies and mechanisms are in place to attract manufacturing and industry into their country. Three, energy is a main element to consider; the UAE is lucky in this aspect, in that sustainable and renewable energy is an attractive sector for industries.”
The inaugural Global Manufacturing and Industrialisation Summit is taking place at the Paris-Sorbonne Abu Dhabi, UAE, until March 30, 2017, under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The Summit, which is co-chaired by the UAE Ministry of Economy and the United Nations Industrial Development Organization (UNIDO), is the world’s first global gathering for the manufacturing community, bringing together 1,200 decision-making leaders from governments, businesses and civil society organisations to shape a vision for the sector’s future.
The Summit is a global platform for participating attendees to learn from best practices from across the world. This unprecedented global gathering will spark new ideas and set the stage for debate and action – addressing ways in which manufacturing can shape and reshape the world, integrating activities between developed and emerging markets, and delivering on social responsibility towards future generations. Leaders from the public and private sectors, along with representatives from civil society organisations, will gather to discuss global challenges within the manufacturing sector, looking specifically at six themes: technology and innovation; global value chains; skills, employment and education; sustainability and environment; infrastructure; standards, and stakeholder alignment.