Hamdan Bin Mohammed Emphasises Trade's Role In Dubai's Economic Growth During Business Meeting
Dubai's trade sector remains a pivotal element in its economic advancement and global standing, according to H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. As the Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, he emphasised the sector's role in fostering diversification, innovation, and resilience amid global competition.
Sheikh Hamdan highlighted that trade is integral to Dubai's economy and its status as a leading global city. "Trade is the lifeblood of Dubai’s economy and a crucial pillar of its growth as a leading global city," he stated. "Decades of collaboration with the trading community and international partners have allowed us to transform challenges into opportunities and raise Dubai’s profile on the global trade map."
The emirate's robust trade performance aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. This vision has positioned trade as a catalyst for sustainable development. The Dubai Economic Agenda D33 aims to double foreign trade to AED25.6 trillion and add 400 cities as trading partners by 2033.
Sheikh Hamdan reiterated Dubai's commitment to enhancing its trade infrastructure and partnerships. He stressed the importance of aligning legislative frameworks with international standards and leveraging digital transformation for greater efficiency. The emirate aims to strengthen collaborations with the private sector to achieve these goals.
During a meeting at Za’abeel Majlis in Dubai, Sheikh Hamdan met with businessmen, traders, and investors. He expressed confidence in achieving unprecedented growth through strategic vision, sound planning, and innovation. The gathering was attended by H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum and other dignitaries.
The Crown Prince noted that the trade sector significantly contributes to job creation, competitiveness, market access expansion, and business growth opportunities. He reaffirmed Dubai's dedication to empowering partners with resources needed for exploring emerging markets.
Innovative Energy Solutions
At the same event, Ben Nowack from Reflect Orbital discussed advancements in space-based solar energy solutions. His company aims to extend solar energy availability beyond daylight hours using in-space reflectors for nighttime illumination over large areas.
Nowack highlighted how investments in space transportation have made accessing space more feasible. Solar energy is now one of the fastest-growing technologies globally due to its cost-effectiveness. Reflect Orbital’s first satellite will focus on providing light after sunset.
The potential for harnessing sunlight from space could enhance energy resources significantly. Nowack emphasised this during his presentation on how such innovations can improve living standards worldwide.
Dubai continues to position itself as a premier global trade gateway by focusing on strategic partnerships and innovative solutions like those presented by Reflect Orbital.
With inputs from WAM
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